CANNEX Financial Exchange Ltd.

CANNEX Financial Exchange Ltd. (commonly branded simply as CANNEX) is an independent, privately held financial information and technology company with operations in Canada and the United States. Its stated mission is to provide access and transparency relating to the cost and features of retirement savings and retirement income products offered across the market. Rather than manufacturing or selling financial products itself, CANNEX operates as an information exchange: it collects pricing and product features from financial institutions and redistributes that data, in standardized and often real-time form, to distributors, manufacturers, service providers, advisers and consumers. The company is best known in Canada for the CANNEX GIC Exchange, described on its own website as the dominant facility that automates application processing and administration of Term Deposits/GICs for participating product issuers and dealer organizations. Through the same infrastructure, CANNEX consolidates interest-rate and product information for a wide range of deposit and savings products, including term deposits, Guaranteed Interest Certificates (GICs), Guaranteed Interest Annuities (GIAs), Registered Retirement Income Funds (RRIFs), deposit accounts, and mortgages. Rates are organized across savings categories such as non-registered accounts, RRSPs, TFSAs, U.S. dollar accounts, and registered income categories. On the annuity side, CANNEX supports the exchange of pricing information for income annuities, fixed rate annuities (SPDA), indexed annuities and variable annuities in both Canada and the United States. Because it manages the actual pricing algorithms for lifetime income products through its actuarial team, CANNEX is able to develop benchmarks and indices — including the PAY Index in Canada and the USA, and the Implied Longevity Yield — that financial institutions use for product valuation, retirement planning and allocation decisions. Its quantitative research team provides methodologies intended to help optimize the selection and allocation of annuity and insurance guarantees in support of retirement programs. CANNEX emphasizes its independence as a core part of its value proposition. According to its About Us page, no financial institution holds any shares in the company, and no CANNEX employee or shareholder receives any income from the sale of financial products. This neutrality is presented as the basis for its role as a trusted, unbiased exchange of pricing and analytics between financial institutions. The company's services are deployed to support a variety of processes, including research and market intelligence, financial planning and education, sales and compliance, transaction processing, and product service and administration. Its clients and data users span banks, trust companies, credit unions, savings and loans, life insurance companies, dealer organizations, agents and brokers, and electronic and print media that publish consolidated rate information for consumers. CANNEX also provides custom research and due diligence for both retail and institutional markets, and it engages with regulators and standards bodies; its research team has, for example, submitted comments to NAIC working groups in the United States. CANNEX is headquartered in Toronto, Ontario, and maintains operations in both Canada and the United States. It remains an independent, privately held company and is not listed on any stock exchange.

CANNEX Financial Exchange Ltd. is an independent, privately held company that has built its business around the exchange of pricing information for annuity and bank products across North America. The company operates from Toronto, Ontario, with operations in both Canada and the United States, and describes itself as independent and privately held, with no financial institution holding shares and no employee or shareholder receiving income from the sale of financial products. CANNEX's core historical role has been to act as a neutral intermediary and data utility for the retirement income and deposit markets. In Canada, it developed the CANNEX GIC Exchange, which its own materials describe as the dominant facility automating application processing and administration of Term Deposits/GICs for participating product issuers and dealer organizations. This exchange allowed financial institutions to distribute and process deposit products electronically, replacing or supplementing manual, paper-based application and administration workflows. Over time, CANNEX expanded from deposit product data into annuities and retirement income analytics. It now supports the exchange of pricing information for income annuities, fixed rate annuities (SPDA), indexed annuities and variable annuities in both Canada and the United States. Because it manages the actual pricing algorithms for lifetime income products through its actuarial team, CANNEX was able to develop benchmarks and indices — including the PAY Index in Canada and the USA and the Implied Longevity Yield — that financial institutions use for product valuation, retirement planning and allocation. Its quantitative research team provides methodologies intended to optimize the selection and allocation of annuity and insurance guarantees in support of retirement programs. The company's services have broadened to support research and market intelligence, financial planning and education, sales and compliance, transaction processing, and product service and administration. CANNEX also provides custom research and due diligence for both retail and institutional markets, and it engages with regulators and standards bodies; its research team has submitted comments to NAIC working groups in the United States, including a follow-up response in May 2026 related to the NAIC 2026 Term Deposit Conference. CANNEX maintains a public-facing presence through its website, where it publishes consolidated rate information for GICs, term deposits, RRIFs, deposit accounts and mortgages, as well as annuity pricing and research content. It also publishes news and recognizes industry figures, such as the April 2026 recognition of Phil Marsillo, CEO of IDC Worldsource Insurance Network, with the 2026 Alexander S. Melvin Award. Throughout its history, CANNEX has remained privately held and independent, without a stock exchange listing.

• CANNEX Research Team submits follow-up comments to NAIC Working Group (May 2026)

  [1]CANNEXcannex.com
• Phil Marsillo, CEO of IDC Worldsource Insurance Network, recognized with 2026 Alexander S. Melvin Award (April 2026)

  [1]CANNEXcannex.com

Independent, privately held exchange and analytics provider for annuity and bank product pricing in North America, emphasizing neutrality and transparency.

• CANNEX GIC Exchange

  Dominant facility in Canada that automates application processing and administration of Term Deposits/GICs for participating product issuers and dealer organizations.

• Annuity Marketplace

  Advanced annuity selection and simplified annuity pricing platform.

• RRIF Information Service

  Consolidated view of interest rate and product information for fixed interest rate RRIFs offered by banks, trust companies, credit unions, savings and loan and life insurance companies across Canada.

• GICs/Term Deposits Data

  Consolidated view of interest rates for deposit products including Term Deposits, GICs, and GIAs across savings categories.

• PAY Index (Canada)

  Benchmark index for income products in Canada.

• PAY Index (USA)

  Benchmark index for income products in the United States.

• Implied Longevity Yield

  Benchmark and index for income valuation.

• 2021.04.13

  Reported2021.04.13

  Luma and Cannex partner on annuity data and tools[6]Luma与Cannex合作提供年金数据和工具investmentnews.com

  Luma Financial Technologies and Cannex partnered to provide advisers with product data and modeling support across annuity types. The arrangement gives Luma access to Cannex's database, savings annuity platform and illustration engine.

Read more

1. 1CANNEXcannex.com
2. 2About Us – CANNEXcannex.com
3. 3RRIFs – CANNEXcannex.com
4. 4GICs/Term Deposits – CANNEXcannex.com
5. 5Cannex Financial Exchange Lts – Wikidatawikidata.org
6. 6Luma与Cannex合作提供年金数据和工具investmentnews.com