Cost pressure with IT 30% of cost base Complement strategy analysis with assessment of IT cost cutting options Share transaction platform underneath different business lines Redesigned technology platform realized 50% cost savings Taking cost out of mission-critical IT Problem: The client is a leading electronic exchange for securities. A wave of new electronic exchanges emerged in the mid 90s and created vicious price competition. SecuritiesCo has recently acquired its primary competitor and was in need to integrate two technology infrastructures. Also, SecuritiesCo was under significant pressure to reduce costs where customer interfaces accounted for ~30% of technology costs. Bain was asked to advise on the following issues: How should we integrate SecuritiesCo and its acquisition technology infrastructure? How should we restructure the organization to best compete in a consolidating industry environment?