CANNEX gathers and compiles data and calculation values for financial products and services offered by financial institutions in the United States.

CANNEX redistributes this information to brokers, agents and wirehouses; financial institutions; print and electronic media; analytical services and consumers in the most efficient method for each client.

            These methods include:
            •   Intranet, extranet and web pages hosted on CANNEX’s servers
            •   Formatted (HTML) web pages downloaded to clients’ servers
            •   Customized electronic files to update clients’ databases or web sites
            •   Standard electronic files to update clients’ databases or web sites
            •   Direct access on the CANNEX System
            •   Email and fax

            The products and services tracked include:
            •   Single Premium Deferred Annuities (SPDAs)
            •   Single Premium Immediate Annuities (SPIAs)
            •   Calculation results, hosted calculators and custom written algorithms for SPIAs.

The key to the accuracy and timeliness of this information is that financial institutions update and maintain information about their own products on the CANNEX System.  This is done by online access or file transmission.   All data is checked electronically when entered and CANNEX staff regularly audits the data for accuracy and completeness.

In the case of SPIAs, insurance companies have provided CANNEX with their mathematical algorithms used to calculate SPIA values, which are reprogrammed onto the CANNEX System.

© Copyright 2010 CANNEX Financial Exchanges Limited.  All rights reserved. 
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