"Serving as a Bridge between Quantitative Finance and the Practitioner using Technology"

Montgomery Investment Technology, Inc. of Radnor, Pennsylvania, specializes in financial modeling research, software application development, custom programming, derivatives training seminars and valuation consulting. MITI offers a comprehensive library of financial functions in the award winning software package FinTools®. The Excel add-in version of the library is packaged as FinToolsŪ XL, and offers the flexibility of calculating option, exotic option, bond values, risk sensitivities and price volatilities within your spreadsheet. Option Tracker delivers an integrated solution for ESO administration, valuation and financial reporting. Windows DLLs are available to software developers for use within Access, SQL Server, Visual Basic and Visual C++. Sun Solaris, Linux and Java development libraries are also available. The operating systems and platforms we support are Windows, Unix and Linux.

Background:

Montgomery Investment Technology, Inc. was founded in 1988 when we pioneered the first spreadsheet add-in for options analysis. The expanded product line became registered as FinTools^® Software in 1994, and today has evolved into a comprehensive library of financial functions and applications designed for end users and developers.

MITI now provides state-of-the-art investment and quantitative analysis tools to banks, market-makers, hedge funds, portfolio managers, corporate treasurers, academics, accountants, compensation managers, risk professionals, software developers, traders and consultants.

Vision:

The vision of MITI is "Serving as a Bridge between Quantitative Finance and the Practitioner using Technology."

Mission:

The mission of MITI is "Providing Financial Tools Leading to Fair and Independent Investment Decisions." By utilizing advanced technology and valuation techniques, we are able to deliver practical software solutions to investment and financial professionals. The key areas of emphasis are summarized by:

S oftware applications for financial professionals
P rogramming of custom solutions
E ducational option pricing seminars
C onsulting services for derivative valuation

FinTools^® Software:

FinTools^® XL is the flagship product and includes modules OPTIONS XL, EXOTICS XL, BONDS XL, UTILITY XL, and RISK XL. These modules are available as Excel add-ins, Windows DLLs and Unix LIBs.

OPTIONS XL Premium Series provides financial functions for applying the Black-Scholes, Binomial and Whaley models. Other functions in the package includes SIA fixed income calculations, volatility, skewness, kurtosis, non-standard options, futures, foreign exchange, Value at Risk, Efficiency Frontier, CAPM and financial risk management.

Option Tracker is an integrated software solution for ESO administration, valuation and financial reporting.

Financial applications offered are OptionsCalc , BondsCalc , ExoticsCalc , VolatilityCalc , FinData and eSigTools .

FAS 123R Solutions:

FAS123 Toolkit is an easy-to-use software toolkit for compliance with FAS 123R and SEC regulations. The Toolkit is a bundle of FinTools^® XL modules, and provides custom functions, templates and "wizards". The Black-Scholes, Binomial Lattice and Monte Carlo option pricing models are available to accurately calculate the fair value of these options while offering the capability to perform what-if analysis for planning purposes.

Option Tracker™ is a software tool designed to make Employee Stock Option (ESO) administration and valuation easy. It is ideal for small to medium sized companies with a need to simplify option grant administration and generate useful reports. The Black-Scholes, Binomial Lattice, Monte Carlo and volatility models in the Option Tracker™ comply with FAS 123R and SEC valuation and reporting standards.

MITI also provides a comprehensive option valuation consulting service for FAS 123R compliance and SEC financial reporting. The primary emphasis is market and performance condition awards.

Services:

The company has provided custom programming, valuation, consulting and option training services for the Financial Accounting Standards Board, Internal Revenue Service, Deloitte Consulting, Aon Consulting, Chicago Board Options Exchange and many corporations. Our staff is qualified to serve as an expert witness in litigation proceedings, and to provide derivative valuation services for inclusion in corporate Securities and Exchange Commission (SEC) filings.

Clients:

The client list of MITI includes: FASB, IRS, Deloitte Consulting, PwC, Ernst & Young, KPMG, Grant Thornton, Moss Adams, Ibbotson Associates, Duff & Phelps, Alcoa, Merck, Intel, IBM, Shell, Apple, Pitney-Bowes, DirecTV, Eastman Kodak, Phillip Morris, Toro, Tech Data Corp, Tucows, UPS, Xerox, H&R Block, Syndesis, Novagold Resources, Value Line Publishing, NY Power Authority, ConAgra, Kaiser Aluminum & Chemical, Florida Power and Light, PG&E Energy Trading, Occidental Oil & Gas, El Paso Natural Gas Co., DTE Energy Trading, Idacorp Energy, Pace Global Energy Services, Edison Gas, Sun Life, CIBC, Lehman, Carr Futures, Morgan Stanley, Deutsche Bank, ING Barings, Merrill Lynch Investment Managers, Prudential-Global Advisors, DeRosa Research & Trading, Highbridge Capital, NY Mercantile Exchange and Chicago Mercantile Exchange. FinTools® XL is used by a number of leading academic institutions including University of Chicago, Illinois Institute of Technology (Howard Simon), Bentley College, Rice University, National Chung Hua University, Tung Hai University and Drexel University.

Staff:

The staff and consultants of Montgomery Investment Technology, Inc. integrate extensive academic training with the practical application of derivative pricing theory to proficiently deliver comprehensive solutions for our clients and regulators. Credentials include Chartered Financial Analyst (CFA), Financial Risk Manager (FRM), Master of Business Administration (MBA), Doctor of Philosophy (PhD), Certified Public Accountant (CPA), Masters of Computer Science and Information Technology certification.