Use case · Platform migration
Migrate your IBOR and ABOR without breaking the books
A books-of-record migration fails on data, not software. We map, load, reconcile and cut over with agreed tolerances and a rollback plan you can actually use.
In one minute
IBOR/ABOR migration is the process of moving positions, transactions, historical data and opening balances from spreadsheets, a legacy portfolio management system or a legacy accounting system to a new investment and accounting book of record. Fundtec runs these migrations end to end: data mapping, historical loads, parallel runs, cut-over reconciliation and rollback planning, on Tychi or the platform you select.
Managers at a decision point: a fund to launch, an administrator to change, or an operating model that has to scale.
A 30-minute scoping call, then a written plan: scope, the transition timeline and indicative pricing. No generic proposal.
When an IBOR/ABOR migration makes sense
Managers migrate for three reasons. The spreadsheet that became the IBOR no longer scales to new strategies or counterparties. The legacy portfolio or accounting system is being retired or has become too expensive to license. Or the firm is consolidating several books into one ABOR to support a new administrator, a shadow accounting program or institutional investor requirements.
Whatever the reason, the risk sits in the data. Instruments set up differently in two systems, tax lots that do not carry across, accruals booked under different conventions and history that was never reconciled all surface at cut-over. Our approach front-loads that work so the cut-over weekend is a confirmation, not a discovery exercise. If you are still designing the target model, start with IBOR/ABOR setup.
IBOR/ABOR migration workstreams
| Workstream | What it covers | Key output |
|---|---|---|
| Discovery | Source systems, spreadsheets, interfaces, reports and manual processes | Inventory of data sets and dependencies |
| Data mapping | Field-level mapping of instruments, accounts, transactions and reference data | Signed-off mapping specification |
| Security master | Instrument cleanup, identifier standardization and pricing source assignment | Clean security master loaded to target |
| Historical data | Transactions, NAVs, prices and investor data for the agreed look-back period | Historical load with reconciliation evidence |
| Opening balances | Positions, tax lots, cash, accruals and the trial balance at the cut-over date | Opening balance tie-out signed off |
| Interfaces | OMS, prime broker, custodian, bank and pricing feeds | Tested inbound and outbound interfaces |
| Parallel run | Old and new systems running side by side for agreed periods | Explained differences within tolerance |
| Cut-over and rollback | Freeze, final load, validation, go/no-go and fallback | Executed cut-over plan and decision log |
| Controls and handbook | Reconciliation rules, maker-checker, access and procedures | Operational handbook for the new platform |
Data mapping and historical data
- 01
Instrument mapping
Each instrument type mapped to the target model, including OTC derivatives, loans and private assets with bespoke terms.
- 02
Transaction mapping
Trade, cash, corporate action and journal types mapped so history rebuilds the same positions and P&L.
- 03
Chart of accounts
Legacy accounts mapped to the new chart of accounts, with one-to-many splits documented.
- 04
Look-back period
Agreed with you and the auditor: typically the current financial year plus enough history for performance fees, tax lots and trend reporting.
How opening balances are established
Opening balances are the foundation of the new books. We take positions, tax lots, cash, receivables, payables and accruals as at the cut-over date and tie each one to an independent source: the prime broker and custodian for positions and cash, the last audited or administrator-reviewed trial balance for the ledger, and investor statements for capital.
Differences are not plugged. Each is traced to its cause and either corrected in the source, carried as a documented reconciling item or resolved with the auditor. The signed-off opening balance becomes the first entry in the new platform’s audit trail.
How the cut-over plan works
Dress rehearsal
A full cut-over is rehearsed on a prior period so timings, scripts and owners are proven before the live event.
Freeze
Static data and non-essential changes are frozen in the legacy system from an agreed point.
Final load
Closing positions, balances and open items are extracted and loaded into the target.
Cut-over reconciliation
Positions, cash, market value, accruals and NAV are reconciled between old and new at the cut-over date.
Go/no-go decision
Results are measured against the agreed tolerances. The decision and its evidence are logged.
Hypercare
Heightened review through the first live close, with the legacy system kept available read-only.
Validation tolerances for cut-over
Tolerances are agreed with you before the parallel run. The approach below is typical; thresholds are set per fund.
| Data set | Typical tolerance approach | Sign-off |
|---|---|---|
| Position quantities | Exact match by instrument and account | Operations lead |
| Cash balances | Exact match by account and currency | Treasury lead |
| Market values | Explained differences only, typically from price source or timing | Valuation lead |
| Accruals | Small differences allowed where day-count or convention changes are documented | Fund accounting lead |
| NAV and NAV per share | Within an agreed threshold, with every difference explained | Manager CFO or COO |
| Investor capital | Exact match by investor and class or series | Investor services lead |
Rollback plan essentials
- Legacy system kept operational until the first live close is signed off
- Defined rollback triggers linked to the tolerance table
- Named decision-maker and escalation path for a no-go
- Data captured in the target during cut-over can be replayed in the legacy system
- Counterparty feeds can be redirected back within the rollback window
- Communication plan for the front office, administrator and auditor
What drives migration cost and duration
- 01
Source quality
Clean, reconciled source data migrates quickly. Spreadsheets with manual overrides take longer.
- 02
Instrument range
OTC derivatives, loans and private assets need more mapping than listed equities.
- 03
History depth
Longer look-back periods mean more loads and more reconciliation.
- 04
Number of funds and interfaces
Each fund, account and data feed adds build, test and parallel-run effort.
Engagement model
How an engagement is structured
Economics aligned to your growth. Scope, cadence and pricing are confirmed jointly in the first phase.
- 01 · Weeks 1–4
Onboarding & design
A phase-linked fee covers process mapping, the operational handbook, systems access and the SLA framework — before any handover.
- Target operating model
- Operational handbook
- SLAs agreed jointly
- 02 · From the parallel run
Monthly base fee
Your dedicated team, pod manager oversight and the governance cadence — daily huddle, weekly review, monthly service review, QBR.
- Named PM → SME
- Trained backup for every role
- Governance included
- 03 · As you grow
Scales with AUM
AUM-linked tiers and pre-agreed triggers for new mandates or counterparties — so growth never means renegotiating the contract.
- Transparent triggers
- No renegotiation
- Quarterly pricing review
Every engagement starts with a scoping call — no obligation, no generic proposal.
Request an indicative proposalQuestions
Common questions about IBOR/ABOR Migration
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Ask a specialistFrequently asked questions
How long does an IBOR/ABOR migration take?
A single-fund migration from spreadsheets or a simple legacy system typically takes a few months including the parallel run. Multi-fund migrations with OTC derivatives, private assets or many interfaces take longer. The parallel run usually covers at least one full month-end close, and the timeline is confirmed after discovery and data profiling.
How much history should we migrate to the new system?
Migrate enough history to support ongoing calculations and reporting: at minimum the current financial year, plus open tax lots, high-water marks, equalization and series history, and any period needed for performance reporting. Older history is often archived in read-only form rather than loaded. Agree the look-back with your auditor before you start.
What is a parallel run in a systems migration?
A parallel run is a period in which the legacy and new systems process the same transactions and produce the same outputs, such as positions, P&L and NAV, so results can be compared. Differences are explained and resolved before cut-over. It is the main evidence that the new books of record can be trusted.
Can we migrate from spreadsheets directly to a full IBOR/ABOR?
Yes, and it is one of the most common migrations Fundtec runs. The main work is standardizing instruments into a security master, reconstructing transaction history and establishing clean opening balances. Tychi ingests spreadsheet, PDF and API data, which makes it practical to move directly from spreadsheet-based books.
What happens if the cut-over fails validation?
If cut-over results fall outside the agreed tolerances, the go/no-go decision is a no-go and the rollback plan is executed. The legacy system remains the book of record, counterparty feeds are redirected, and the breaks are investigated before a new cut-over date is set. Rehearsing the cut-over beforehand makes this outcome unlikely.
Who owns the migrated data and the new platform?
You own your data. If the target is your own licensed platform, Fundtec works in your environment under your access controls. If the target is Tychi, your data is held under ISO 27001-certified controls and can be exported. Mapping specifications and the operational handbook are handed over as project deliverables.
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