Yes, we support calendar-based, drift-based rebalancing or ad-hoc rebalancing.

Calendar-based is as simple as it sounds: rebalance at a given point in time, periodically. That means that if the rules are set to automatically rebalance every month, it’ll rebalance on that date, every month.
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Quarterly is also a common rebalancing time frame. Anything over that is a bit unorthodox, but in theory, you can rebalance whenever you want to, there's no right or wrong answer.

With drift-based rebalancing, the rebalancing engine will automatically trigger orders to rebalance portfolios if the asset allocation drifts away from the strategic weight to a defined point, say +5%.
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We call this the drift point or variance point. So if any instrument or any security is more than a defined percentage away from the asset strategic weight, it rebalances.
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If the programmed rules are for the drift point to be triggered at +/- 5%, and your portfolio drifted +5%, the rebalancing engine would automatically send orders to the Order Management System to buy and sell assets accordingly.

Ad-hoc rebalancing is literally what it sounds like: you can rebalance on an ad-hoc basis, whenever your team decides. Giving you total control over portfolio management.