HSBC and IBM said on Thursday that they conducted the first known experience in the world using quantum computers to enhance the trading of algorithms, as they reported a 34 % improvement in predicting the possibility of winning customer inquiries in the bond market in Europe.
The experiment is said to have collected classic and quantitative computing resources to improve pricing strategies in the trading of bonds without a prescription, as banks are competing to provide quotes to customers.
Using an IBM Heron processor, HSBC testing real production trading data, indicating that quantum technologies can better define hidden pricing signals in loud data sets.
Philip InTallura, head of the HSBC group in quantum technologies, praised the trial as “a leader around the world in bond trading”, adding that she has gave “a tangible example of how quantum computers today solve a real world’s business problem.”
IBM Quantum Jay Gambetta’s vice president described cooperation as evidence of what is possible “when the deep field experience is combined with advanced algorithm research.”
He said that work is the most prominent of how classic and quantitative methods can transform industries with technology maturity.
HSBC said the results have strengthened her belief that quantum computing can soon provide a competitive advantage in financial services.
The bank explores applications in the short term technology, focusing on areas where the amount of current systems can increase instead of replacing them directly.
IBM’s quantum computers are available across the cloud, with tools like Qiskit that allows integration in the financial workflow.