Startup Sees a $60 Billion Bond Market Ripe for Disruption (1) – Bloomberg Law

By Ezra Fieser
Among the ideas that have minted billion-dollar tech companies, Cicada’s business model is about as unflashy as it gets.
The startup isn’t going after the industries that have grabbed headlines and the bulk of venture capital cash like credit cards, transportation and food delivery. Instead, it sees a fortune to be made in fixed-income trading — specifically, local currency bonds in emerging markets.
Three Mexican founders, including Javier Hernandez, who is a former member of Morgan Stanley’s debt capital markets team, and Manuel Ballesteros, a trader with 20 years experience, are quick to point out that in Latin …
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