Committee of Experts Being Formed to Review Breakthrough New Financial Technology
Research Triangle Park, NC—(August 27, 1998)— A review committee of experts in mathematics, physics, quantitative analysis and other specific scientific disciplines is being formed to conduct due diligence on the Institute for Financial Technology's breakthrough P-28 technology, which applies gauge symmetry to financial markets for the first time. This review committee will have the background needed to perform due diligence on P-28, and in particular will have background in the specific scientific disciplines that have been combined for the first time by P-28's revolutionary new technology. The committee will provide vital third-party certification of the technology's effectiveness, allowing IFT development partners to begin capitalizing on P-28's competitive advantages in world financial markets. "Beliefs-Preferences Gauge Symmetry Group and Replication of Contingent Claims in a General Market Environment, the book that describes P-28, was recently released and the response has been absolutely overwhelming," says Steven M. Rideout, IFT Managing Director. "Both Wall Street and the scientific community want to move ahead immediately with the R&D project that will develop the engines needed to apply this technology in all markets worldwide. The first step is to have an independent, third-party review board minimize the cost of the review process and ensure an accurate appraisal of the technology's power to revolutionize the industry. The new due diligence committee provides this. This committee will also act as a clearinghouse for inquiries about P-28 from interested parties in business, finance, academia and the media." The creator of P-28 and the author of Beliefs-Preferences Gauge Symmetry Group and Replication of Contingent Claims in a General Market Environment, Dr. Valery Kholodnyi, received his Ph.D. in Applied Mathematics from the Moscow Institute of Electronics and Mathematics in 1990. He has co-authored two other landmark books in the field of finance, Foundations of Foreign Exchange Option Symmetry (IES Press) and Foreign Exchange Option Symmetry (World Scientific Publishing Co.). Both of these books are conceptually based on Beliefs-Preferences Gauge Symmetry Group and Replication of Contingent Claims in a General Market Environment. Dr. Kholodnyi has also authored or co-authored over 60 research papers in finance, mathematics, theoretical physics and engineering. He has been an invited speaker at numerous international and national conferences, as well as at research seminars in university departments and industry. The review committee will be made up of at least six independent researchers. Each of these experts will have specific background in one of the scientific disciplines that Dr. Kholodnyi combined to formulate the P-28 technology. The committee will include the following specialists:
"This technology is very complex, and it combines many scientific disciplines that have never been combined before," explains Rideout. "Performing due diligence on P-28 is a highly complex task. Thus far, we have not found any one entity, including even the most sophisticated investment bank, that has the right combination of personnel needed to accomplish a prudent review of the technology." "It is time for an independent, third-party review group to be created for this purpose," says Rideout. "This new technology is already creating a major revolution in a multi-trillion dollar industry, the financial derivative markets. There is a great deal of interest in P-28 coming from producers of electricity, other forms of energy, and agricultural commodities, as well as portfolio managers in all international and domestic financial markets. We're getting a very strong response from investment banks, major brokerage firms, quantitative analysts, traders, asset and portfolio managers, and economists." Funding for the committee's review will come from interested parties who want to perform due diligence on P-28. IFT estimates that due diligence will take three months to complete, at a total cost of $120,000. Interested parties will pay a one-time $20,000 fee to be sponsors of the committee, receiving a comprehensive due diligence review of the P-28 technology at a fraction of the cost of doing the review themselves.
Anyone interested in joining or supporting the P-28 due diligence committee, purchasing copies of the book, or attending the P-28 Symposium can call the IFT at 919-549-0801. For interviews with Mr. Rideout, contact Celia Rocks at 828-322-3111 or CeliaRocks@aol.com. An executive summary and business overview of the IFT is available on the World Wide Web at www.ieslc.com.
|