Overview

• HSBC reported that a hybrid quantum‑classical workflow outperformed its classical‑only models in estimating whether quoted bond trades would be filled.
• The trial analyzed more than 1 million request‑for‑quote records across about 5,000 European corporate bonds from September 2023 through October 2024.
• The work remains pre‑live, with no real‑time trading executed, and technical details of the approach are proprietary pending further disclosure.
• IBM’s shares rose roughly 5% following the announcement, reflecting investor interest in near‑term quantum computing use cases.
• HSBC and IBM described the result as early empirical evidence of quantum’s commercial potential, while coverage noted the technology is still at an early stage and will require replication.