ACORD XML Annuity

XMLife subset dedicated to annuities.

Definition

ACORD Annuity Distribution Election (OLifE) standardizes communication between broker-dealer, carriers and clearing platforms (Pershing, NFS, Schwab, DTCC NSCC IPS). Main transactions: application submission, in-good-order verification, suitability data, commission split, free look period reporting.

Origin

ACORD with FINRA, DTCC, IRI (Insured Retirement Institute). Annuity schemas integrated XMLife 2.20+ 2018.

Usage

US annuity distribution via wirehouses (Morgan Stanley, Merrill Lynch, UBS), IBDs (LPL, Raymond James, Edward Jones), bank channels.

Related terms

• ACORD XMLife — famille parent.
• DTCC NSCC IPS — plateforme clearing annuités.
• IRI — consortium métier.