Pantorouter

Commercially it is called a slot mortiser, and is a common "fifth" function on combination machines - in my case the cutter is in a fixed place and the work piece is moved. Rather than cutting tenons, the mortises go so fast that I cut mortises on both pieces and use floating tenons.

If you are interested in the MiniMax slot mortiser, I have a page showing how to use it at www.plesums.com/wood/tips/mortiser.html
 
I visit that website regularly... He has some very interesting projects and ideas. Definitely a non-traditional approach to the hobby!
I have not built one myself, but there are links at the bottom of that webpage for reader-built units.
 
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