The L3 Multimaximizer from Waves is a plug-in that performs multi-band peak limiting, delivered in two versions. The Multimaximizer and Ultramaximizer plug-ins both utilize the Peak Limiting Mixer (PLMixer) engine with the only difference being less control provided on the Ultramaximizer.
The plug-in uses linear phase crossover filters to divide the audio spectrum into five bands. The PLMixer then uses psychoacoustic criteria to intelligently decide how much attenuation to apply to each band so that all available headroom is used.
The result is that inter-modulation is minimized and overall loudness is maximized, while brick-wall limiting and a single master threshold control are both maintained. With its transparent operation, brick-wall limiting, dithering, and noise shaping control, the L3 is able to function as a complete mastering processor.