Full Report Flo­ „onster Based around a highl commoditised increasing the pace of commoditisation‡ annual investment costs under a latenc product set‡ –eˆgˆ cash eŒuities‡ F§—‡ pushing more products to­ards the flo­ driven‡ technolog ‘arms race’‡ and to the Flo­ „onster model relies on model‡ at a faster rateˆ In particular‡ this provide the directional information that processing huge trade volumes at is a process that is likel to ‚e accelerated traders so desire‡ ­hich‡ amongst other e‘tremel tight spreadsˆ The model for certain ˜T derivatives‡ as the ‚enefits‡ ena‚les accurate pricingˆ is focused on serving sophisticated standardise follo­ing reform to ‚ecome This need for critical mass ho­ever‡ institutional clients‡ operating in highl centrall cleared and e‘change’tradedˆ alongside rising capital constraints developed capital markets‡ and is premised This provides opportunities for Flo­ challenging returns on eŒuit‡ means on three elements efficient technolog „onsters to ‚roaden the product setˆ that ­e see onl three to five plaers ‚eing to relia‚l and rapidl process millions ‹hile the model appears simple in terms a‚le to survive in each flo­ marketˆ This of trades per second‡ highl competitive of the small num‚er of choices‡ long term‡ consolidation ­ill pla into the hands of pricing‡ and strong sales relationships patient investment is necessar to ‚uild market leaders ‚ut ­ill force those outside to attract client ‚usinessˆ the market’leading capa‚ilities reŒuiredˆ this ‚racket to make strategic call as to Technolog developments and a range A critical mass of volume is crucial to make ­hether the ­ill ‚e a‚le to surviveˆ of regulator proposals are rapidl the model ­ork‡ ‚oth to support the high Figure ‘lo… Monster Model Key hoice ore ­usiness ƒlow onse‚uence Performance Outcome Differentiator Pre€re‚uisite to operate in the maret Source Accenture Research Sales Team Strong lient eputation elationships Talent Development Tight High Spreads Etensive aret Volume rossing onnectivity of Orders educed Headcount osts Proven  ility eputation as etention to Eecute with ccurate aret aer of Spreads Low Latency esearch ontent utomated Processes ccurate Directional Information Pricing High Profits Industrialised Operations Effective Position Position anagement ule ­ased anagement apa ility Eecution Powerful and Efficient Infrastructure Investment in Latency Developers High and Effective Technology Investment €2