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Licensing Summary

Licensing

There are three license types for the Hoadley Finance Add-in for Excel and associated products:

bullet Private-use:  The products can be used by the individual who purchased it for his/her private trading, personal investment, personal education, or other similar private purposes. Use of the products purchased under a private-use license in a business for any purpose is strictly prohibited. A private/personal-use license can be bought on-line.  Pricing & on-line purchase.
 
bullet Private-use with Pro-upgrade: A pro-upgrade license is a private-use license which includes additional features which are not available in the "regular" private-use license. Like a private-use license, the pro-upgrade does not permit the products to be used in a business for any purpose. To obtain a pro-upgrade license you must first buy a private/personal-use license. Contact Hoadley Trading & Investment Tools for pro-upgrade details. The Pro-upgrade is only available to approved private investors.
 
bullet Corporate/commercial: A corporate/commercial license is required to use the products for any business purposes.

Business use is defined as any activity using the Hoadley Finance Add-in for Excel, or other products available on this web site, undertaken on behalf of a firm, a corporation, a partnership, a trust, a consulting organization, a one-person consultancy, or in any government, educational or other organization, irrespective of whether or not the individual who purchased the product is the sole user. This includes using the product for analysis or research into any area relating to the activities of the organization itself or relating to products or services provided by the organization to third parties. Contact Hoadley Trading & Investment Tools for corporate licensing details.

 
Features By License Type

The following table lists those functions and applications for which availability or feature capability depends on the license type.  Functions and applications not mentioned are available under all license types.

Feature Private Pro Upgrade Corporate
Portfolio Optimizer Personal Edition
No limitation on number of assets that can be optmized

Not used Not used
Hoadley Portfolio Optimizer Pro;
Efficient frontier and MVO Target functions
 
Limited to ten assets No asset limit No asset limit
Hoadley Black-Litterman Returns Estimator; Black-Litterman asset allocation functions
 
Limited to ten assets
 
No asset limit No asset limit
Style analysis function; Hoadley Style Analyzer
 
Limited to 12 returns (max one year), and ten assets
 
No returns or assets limit No returns or assets limit
Employee Stock Option functions
 
Not available Not available Available
HoadleyTrinomialTS function (option pricing with volatility term structure)
 
Not available Not available Available
 White Dot