Tomorrow marks a quiet but potentially transformative development in the credit markets: the launch of the CDX Financials index, administered by S&P Global. At first glance, this may look like just another derivatives benchmark. It isn’t. For those of us focused on ERISA fiduciary risk, annuity opacity, and prohibited transactions, this is a major step … Continue reading CDX Financials Launch: The Daily Pricing Revolution That Exposes Annuity Risk