PROCESS

IMPROVEMENT
PAUL CLARKE
EXECUTIVE The overall goal of this deck is to provide the group with an honest and
candid view of the business from an outside perspective. The following

OVERVIEW slides were designed to help understand the potential roadblocks the
business is facing and suggestions to overcome those and achieve our
long term goals. Below are a few areas of focus:

• Sales and Pricing Strategy

• Product, Branding and Global Strategy
• Implementation
• Support and Technology
• Global Communication and Collaboration (Internal and
External)
• Reporting Lines and Resources
• Business Transparency and Communication
• Reporting, Data Collection, PnL
• Technology and Infrastructure
• Innovation, Evolution, and Next Steps
STRENGTHS

Growth of the 100+ global Multiple Among the Built a global Best Smartest and
business from investment locations largest buy- leader Technology Brightest
a start-up to management (New York, side and sell- technology Platform Engineering
a company clients Boston, L.A., side firms platform that Team
that London, globally using is open and
generates Pune, our products flexible with
$87M in Singapore, infinite
Annual Tokyo, and scalability
Revenue Sydney)
PRODUCT,
BRANDING
AND
GLOBALSTRATEGY
• Create a Global Mission Statement
• Create New Product Naming Conversions Across
Functional Lines
• Build a new, sales supportive website
• Remodel US Office (Work areas, lighting, functional layout,
more collaboration)
• Create Transparent dashboards across the business (Global
Performance, Region and Product, Client)
• Hold of First of many Town Halls
• Monthly Management Meetings (Create a Proper
Management Team)
• Create and Executive Steering Committee
THIRDPARTY
BROKER
RELATIONSHIPS
• Create a BEST Team Globally (Broker Execution Services Team)
• Create a External Facing Dashboard for Connection Approvals and
Reporting
1. Client Access to Select Connections along with approval to
collect data
2. Sell-Side Confirms and Approves
3. Automatic Physical Connection Request
4. Sell-Side Report Dashboard to see utilization and other
analytical data
• Standardize the Certification Process Globally
• Create a Central Repository for all FIX certification records and builds
• Verify All Clients are on Latest builds and collect version Data
• Establish Agile Processes to Streamline Certification and Documentation
Process
 POTENTIAL M & A OPPORTUNITIES

BROADWAY FIX FLYER TRADING SCREEN

TECHNOLOGIES
Out of the box physical Still Chaotic but competing heavily
Sell-Side Leader Competing
connectivity, certification and on Buy-Side
heavily against ION and Fidessa
broker connectivity

ALPHA PRO TRITON & ITGNET NEWPORT

(Acquire in the Quantitative Brokers Banner)

• Underutilized Asset at FactSet • Might address the current negative Getting ahead of the same
• $3M in Annual Overhead market reaction to Virtu acquisition trend mentioned above with
• $1M in Top Line Revenue (up 300% • Virtu more than likely only wants the Triton
year over year) MM Business not the technology
 • Move to one global code base across all products with logical branch

IMPLEMENT •
management
Move to a plug-in architecture – Core IP with all Data required accessible via API

TECHNOLOGY • One Standard FIX Engine Across All Builds/Regions – Possibly Look to
Commercial Engine to Replace heavily supported internal engine(s)

STANDARDS • Move to 2 week development sprints with automated QA Process – Utilizing

latest standards
• Get all clients upgraded to latest standard code base
• Streamline Installation Process with a Q&A Install Script that completes the
entire installation – An Install Should take less than a day to complete
• Global Ticket Dashboard with Periodic Check-In Meetings
• Implement Mandatory and Consistent Release and Installation
Notes/Documentation
• Create and Hire a Global Documentation Team
• Create Functional Teams that each developer rolls into and out of in 6 month
increments (cross train)
• Create an innovation Team that ONLY focuses on Bleeding Edge Technology
and Products
• One Global Technology Stack across all regions
IMPLEMENT
GLOBALSUPPORT
STANDARDS
• Create a 24/7 Support Desk with one global number that rolls based on region
available
• Create a global ticketing dashboard that allows all global support staff to
appropriately support clients
• Implement Symphony as a global internal and external communication tool
• Create a “Trader Friendly” Level 1 Support Team with Standardized ROE
• Create a well defined and knowledgeable Level 2 Support Team (Current Level 1)
• Get all clients upgraded to latest standard code base
• Create Periodic Testing of Support Resources in particular outside of the US
• All Clients have at least 3 Environments (Production, UAT, DR)
• One core build that is installed from the beginning with ALL bells & whistles
 HEDGEFUNDS
NEW
GLOBAL • Client Pays Per Seat/Environment
Software Fee (Model TBD)

PRICING • Flex DOES Charge Third Parties at

Three Regional Rates

MODEL o $120,000 Per Region at 10 mils

per share or .50 Bps
o Tiered Structure For Futures
(Flat Fees)
✓ $60,0000 Per Year
ASSETMANAGER ✓ $36,000 Per Year
✓ $12,000 Per Year
• Pays for Software 100% (Model TBD) o Tiered Structure For Options
• Is Responsible for Implementation and (Flat Fees)
Infrastructure ✓ $36,0000 Per Year
• Flex DOES NOT Charge Third Parties for ✓ $24,000 Per Year
Equities and Derivatives ✓ $6,000 Per Year
• Flex DOES Charge for Global FX • Is Responsible for Implementation and
Infrastructure
GLOBAL
RELATIONSHIP
MANAGEMENT
ROLE
• Global team Responsible for client retention and upsell
• Compensation Tied to Sales Performance
• Quarterly reports internal and external
• Internal PnL reporting
• Client Business Driver
• Bi-Annual Client Health Checks
• Responsible for global client User Forums (global and
regional)
• Responsible for client training
GLOBAL
SALES
ENGINEERING
ROLE
• Responsible for managing all global demonstration
environments
• Works with product team to make sure demonstration
environments are up to date with latest builds
• Preparation of SOW documentation
• RFI Responses
• Runs Approval Meeting
• Responsible for most client facing demonstrations
• Responsible for client training
PROCESS
IMPROVEMENT
CHANGES
• Implementing a proper organizational chart
• Creating a strong and empowered middle management layer
• Adopting higher standards in processes
• Creating new departments where needed
• Providing a single point of accountability where required (sales,
product, Engineering, Strategy, Dev, etc.)
• Personal Reorganization
• Creating new roles where required
• Create a global documentation department
NEW
PROPOSED
ORG
CHART
GLOBAL MARKETING STRATEGY

WORK WITH PR QUARTERLY ANNUAL

FIRM ON GLOBAL REGIONAL OUTLOOK FOR
AND REGIONAL THOUGHT PIECES MACRO AUDIENCE
STRATEGY

REGULAR INTEGRATE
GET COVERAGE IN MARKETING
REGULATORY
REGIONAL RAGS STRATEGY WITH
THOUGHT PIECE
NO WEB DESIGN
WEBSITE
REBUILD
DATA,
REPORTING
AND BILING
• Cost of Goods Sold
• Create a Proper Revenue Center for Implementation Team
• How Much Does it cost to Support and Maintain a Client
• Global Real-Time PnL Dashboards
• Automated Billing
• Clear Margin Goals and awareness
• Clear AR Awareness (Collection Process)
• Target versus actual
• understanding of the amount of time and resources it takes
to get a client live, support or maintain each client
• - No resource / hourly spends tracking
SUGGESTIONS
(HAMZA)
• Apply a systems consolidation approach
a. Untangle
b. Streamline
c. Consolidate
• More systems mean more resources and division of labor
• Lean towards automated processes
• Automated processes that eliminate manual reporting
(this streamlines the billing process)
• Use visual software / dashboard systems to monitor
trends
 • Establish clearing defined reporting chains with single point
EMPLOYEE accountability
• Get global team involved: Assign regional questionnaire regarding

MORALE •
morale and staff views on what can be improved
Improve lighting, ventilation, and overall aesthetic of workplace that

AND •
aligns with new brand identity
SPIFs and MBOs – Special Performance Incentive Funds and

PRODUCTIVITY Management by Objectives that aim to motivate employees to do more.

These incentives are measured by metrics and introduce challenges
which prevent stagnation
• Assign S.M.A.R.T. goals: Specific, Measurable, Achievable, Relevant, and
Time-bound
• Create Feedback Portals
• Create a global Intranet (Not a Wiki Page)
• Long-term employees are not being challenged and are "just collecting
checks"
• Talented people are not given the opportunities or platforms to expand
and innovate
• Lack of empowering innovative thought leadership
NEW BRAND
STRATEGY

Establish an Maintain a Develop a Establish new, Involve Global Align brand Employ fresh
accurate firm brand updated Teams in with newly- graduates
market read understandin experience client avatar Rebrand established and interns
to identify g of the that attracts and Persona Strategy objectives, that are more
new trends industry and retains values and attuned to
and changes the ideal goals digital trends
in client base client (important)
SHORT TERM
SALES STRATEGY
PAUL CLARKE
GLOBALSALES
PROCESSES
EVOLUTION
30 DAYS

• Acquire Budget for a Global Sales Engineering Team

• Implement Global Sales Reporting across functional
lines
• Implement a Global Sales Pipeline in Salesforce
Across all business lines
• Create a Collaborative Global Compensation
Structure
• Consolidate and streamline global communication
and sales processes
• Acquire Budget for Global Head of Product
Management (Internal or External)
GLOBALSALES
PROCESSES
EVOLUTION
90 DAYS

• Create Functional reporting lines within our three main target audiences – Sell
Capabilities NOT products
1. SELL-5SIDE
2. BUY-SIDE ASSET MANAGER
3. BUY-SIDE HEDGE FUND
• Create one global pricing strategy
• Establish Brand Messaging for Global Marketing Campaign
• Interview and Choose PR Firm
• Implement Approval Meeting Process
• Acquire Budget for Global Relationship Management Team
• Establish Global Strategy across functional product lines in order to establish
product, marketing, and corporate strategy
• Hire Sales Engineers in all three regions
• Hire Global Head of Product Management
 MAKE CONTACT WITH

GLOBALSALES T Rowe Price, Alliance Bernstein, Eaton

Vance, Asset Management One, Lord

EFFORTS Abbett, Man Group and Carlson Capital

SUMMARY
WORK WITH GLOBAL WORK WITH AARON
30 DAYS SALES AND SUPPORT AND THE HEDGE FUND
TEAM TEAM

to create a single create a transparent

demonstration pipeline and one base
environment for Asset demonstration
Managers environment
GLOBALSALES
EFFORTS
SUMMARY
90 DAYS

• Close Eaton Vance

• Close Carlson Capital
• Establish Goals with Relationship Management Team
• Allocate Sales Regions and annual goals for direct
sales and relationship management teams
• Identify and Announce Head of Sales across functional
and regional lines
• Make Contact with
1. GIC
2. JP Morgan
3. Invesco
• Schedule first bi-annual global sales meeting