QxX
QxX is a family of indices designed to allow market participants to measure, manage and trade exposure to longevity and mortality risksLongevity and Mortality are the risks that realized lifespan differs from expected lifespan, creating an economic consequence, often a price change in an asset or liability. in a standardized, transparent, and real-time manner.
- Reference pools consist of a set of lives, underwritten by AVS Underwriting, LLC, and selected on the basis of pre-established rules. (Data Privacy)
- QxX Indices are published monthly, on the second Thursday of each month, providing real-time mortality information
- Mortality tracked by independent, third-party agent, based on the Social Security Death Index (SSDI)
- Indices roll on an annual basis, providing a continually updated reference pool, market evolution and underwriting trends
In advance of the publication of QxX.LS.2, AVS Underwriting, LLC conducted an extensive review of its historical files and has corrected some of the data in its database. As a result, a number of lives included in QxX.LS.1 have been removed from, or updated in QxX.LS.2. Please refer to Index Data for a complete description of the changes.
Index computation is subject to a set of transparent rules, and is subject to periodic third-party verification. Index operations are supervised by a board that includes independent directors. The rules may be amended by the Administrator in its sole discretion, with market participants being notified prior to or contemporaneous with the effectiveness of any such amendment. The rules can be found in the Documentation tab.
Disclaimers
The Administrator makes no representation whatsoever, whether express or implied, and hereby expressly disclaims all warranties (including, without limitation, those of merchantability or fitness for a particular purpose or use), with respect to each QxX Index or any data included therein or relating thereto, and in particular disclaims any warranty either as to the quality, accuracy and/or completeness of each QxX Index or any data included therein, the results obtained from the use of each QxX Index, the composition of a QxX Index at any particular time on any particular date or otherwise. The QxX Index relies on information reported in the SSDI. The accuracy of the SSDI relies on many factors, including, but not limited to, the timeliness and accuracy with which mortality events are reported to the Social Security Administration and are included in the SSDI. Index Co. makes no representation or warranty whatsoever concerning the accuracy or reliability of the SSDI or any other third party data source used in connection with the operation of the QxX Index.
Index Co. is not liable (whether in negligence or otherwise) to the parties or any other person for any error in a QxX Index, and the Index Co. is under no obligation to advise the parties or any person of any error therein. The data comprising the QxX Index has been obtained from third parties and the use thereof is not an endorsement of such third parties, the accuracy of the data, or the methodologies used in collecting, verifying, analyzing or generating the data or any derivative thereof. Any longevity estimates provided are as of the date specified and no representation or warranty is made or given that such estimates are or were at the time produced an accurate measure of the estimated longevity of the associated reference life.
The data provider, American Viatical Services, LLC (AVS) manages its data independent of the operations of Index Co. and will, from time to time, update and correct its data. These corrections or updates may not be replicated in the Index data. AVS accepts no responsibility for any affect these changes in data may or may not have upon any use of the data in the QxX.
