Why FinTech is Hard: Lessons from the CEO of BondCube – Huy Nguyen Trieu
August 26, 2015 \
8 Comments
Paul Reynolds, the founder and CEO of Bondcube, very kindly accepted to share what he went through and this is invaluable insight for anyone interested in FinTech today.
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8 Comments on "Why FinTech is Hard: Lessons from the CEO of BondCube – Huy Nguyen Trieu"
One Word: Grind – New trading platforms need considerable time to gain traction and achieve critical mass. MarketAxess took several years to validate themselves. Hats off to Mr. Reynolds for starting a new venture. As they say: Winners lose more than Losers. This is because Winners play more (put themselves out there) – don’t give up – learn from their losses – and, come back stronger.
Merlin, you are…ON FIRE!
Nice article with a different angle, and kudos to Mr. Reynolds for offering his thoughts. It’s intriguing to see the successful concept of minimum viable product brought up in the fixed income electronic markets. The continued blending of Silicon Valley methodology with Wall Street can make for a very interesting cocktail. It gives credence to the author’s closing comments, and brings to mind Winston Churchill,..“Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.”
Wolfman, interesting comments on regulation. From Paul’s experience, seems the fixed cost carries a pre launch funding barrier to innovators, and a moat for the incumbents. So, will regulators impose more regulation to overcome the barrier of regulation? As noted US equity markets did. From a light perusal, it seems MIFID II rules would lower the barriers for a platform to have their quotes, IOI’s etc, displayed and respected. Would be interested to hear someone’s perspective there..
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