Ryedale, a UK-based software developer best known for providing investment systems to CalPERS, has implemented a system to meet BondBloxx’s portfolio management, order management, and IBOR needs. BondBloxx, the first ETF issuer dedicated to US fixed income investment opportunities, delivers precisely targeted ETFs which investors can use as building blocks for their fixed-income strategies.
“We’re excited to be partnering with BondBloxx as we further develop our fixed income capabilities. The two companies share an innovative spirit and a determination to do things better”, said Ryedale CEO Jon Rushman. “Great technology in this field only happens when the best software development talent fuses with deep expertise in running investment processes. In this partnership we see both of those elements coming together.”
The founders of BondBloxx and Ryedale worked together to develop the ideal operating platform for fixed income ETFs. Their combined experience with the ETF management process and its supporting technology enabled collaborative innovation and a swift implementation on the Ryedale Platform.
Ryedale provides out-of-the-box and bespoke solutions for investment management firms. Its founders were formerly software engineers on BlackRock’s Aladdin platform. At Ryedale, they engineered a platform providing the same bedrock for an investment process, but with state-of-the-art technology, nimbleness, and a price point accessible to all sizes of asset manager.
The initial BondBloxx funds, which track sector-specific subsets of the ICE BofA US High Yield Index, are the first ETFs enabling investors to target industry sectors across the US high yield market.
The system is up and running and the first ETFs are launching this month. In addition to a full suite of portfolio management functions, the Ryedale platform gives BondBloxx straight-through connectivity to multiple trading partners and custom basket construction capabilities.
"Our partnership with Ryedale allows us to leverage technological innovations to deliver increased price transparency and electronic trading for our bond market ETFs," said BondBloxx co-founder Elya Schwartzman. “In Ryedale, we have a partner that has brought us a first-rate technology platform and they have immediately understood our investment process. Their team is innovative, execution-oriented and brings a depth of experience to designing investment processes that really enabled us to build what we consider to be best-in-class investment capabilities for fixed income ETFs.”