The Inalytics Transition Services team has been providing support to a wide variety of institutions and asset managers for over 20 years. Their consultants are seasoned transition managers with extensive experience, who are trusted by their clients to determine the true cost of trading.

The increased complexity of transition management has meant developing enhanced analytical tools to deliver outstanding analysis and reports to their clients. When this became a focus for Inalytics, they asked Ryedale to build a solution that would simplify the data management tasks and allow the consultancy team to focus on scrutinizing a transition manager’s performance on behalf of their clients.

The challenge

Understanding what has happened during a transition involves acquiring and processing a very complex dataset. This complexity quickly outgrows the capabilities of spreadsheets and requires a centralized technical infrastructure for data management. Automated data acquisition, tools for corporate action adjustments, report generation, and web presence were all addressed from scratch.

The solution

Ryedale’s investment and IT expertise was critical to the project. The solution was built using the Ryedale IBOR (Investment Book of Record). This has trades and position-keeping at its core and may be customized through the addition of further data according to customer requirements. The flexibility has been a significant benefit, allowing clients and key stakeholders to provide data straight from their systems without undue data management overheads.

The Platform’s Transaction Cost Analysis (TCA) engine contains the tools necessary for benchmarking trades. It also includes tools for corporate action adjusting and sanity-checking transaction data.

Ryedale worked with the Inalytics transitions team to design attractive, customized, web-based reports. The data management tools and report output is delivered to Inalytics over a secure and private web application which Ryedale hosts and supports.

This application of the Ryedale Platform was unusual in that it focussed entirely on the TCA piece. We had most of the building blocks, like data acquisition, TCA, web front-end, baked into the Platform’s design. So, when Inalytics approached us, we were fairly quickly able to bolt some customization onto front and back to produce the ideal bespoke system for them.

Paul Maguire Wilson, Software Engineer and Project Lead

The outcome

The Inalytics Transition Services team now has a web application which largely automates their data management and reporting needs. The solution delivered resulted in:

  • Less consultant time spent on routine data management,
  • Greater confidence in the accuracy of the data and the adjustments applied to it,
  • Automated Implementation Shortfall calculations,
  • Shortfall summarized in various ways (by broker, by country, by industry etc.),
  • Automated, presentation-ready report output, delivered immediately over a website.
The Ryedale Platform automated transition reporting and has been a major value add for us. It has freed the Inalytics team from carrying out repetitive tasks and allows us to spend more time doing what we do best – sitting alongside our clients, providing scrutiny over what has happened throughout a transition.

David Edgar, Transitions Director, Inalytics

About Inalytics

Inalytics provides industry-leading investment research, analysis and benchmarking. They focus on identifying and benchmarking investment skill for institutional investors by focusing on decisions, not track records. Their clients include the largest global institutional investors, both asset owners and asset managers: pension funds, sovereign wealth funds, endowments, foundations, multi managers, family offices, fund and portfolio managers. For more information, visit www.inalytics.com/transitions/

About Ryedale

Ryedale delivers a modern, cloud-based, full-service IT platform for investment businesses. Its software provides industry-leading support for model-driven and quantitative investment strategies, embracing index investments, smart-beta, custom indices, asset allocation, overlays and hedging. TCA is one function of the Ryedale Platform. Read more about all it can do here.