The category of rational SO(2)–equivariant spectra admits an algebraic model. That is, there is an abelian category
(SO(2)) whose derived category is equivalent to the homotopy category of rational SO(2)–equivariant spectra. An important question is: does this algebraic model capture the smash product of spectra?
(SO(2)) is known as Greenlees' standard model, it is an abelian category that has no projective objects and is constructed from modules over a non–Noetherian ring. As a consequence, the standard techniques for constructing a monoidal model structure cannot be applied. In this paper a monoidal model structure on
(SO(2)) is constructed and the derived tensor product on the homotopy category is shown to be compatible with the smash product of spectra. The method used is related to techniques developed by the author in earlier joint work with Roitzheim. That work constructed a monoidal model structure on Franke's exotic model for the K(p)–local stable homotopy category.
A monoidal Quillen equivalence to a simpler monoidal model category R•-mod that has explicit generating sets is also given. Having monoidal model structures on
(SO(2)) and R•-mod removes a serious obstruction to constructing a series of monoidal Quillen equivalences between the algebraic model and rational SO(2)–equivariant spectra.