Overview

• The trial applied a hybrid quantum and classical approach to pricing client enquiries in the European corporate bond market.
• HSBC reported a sharper estimate of the likelihood that a quoted trade would be filled, informing pricing decisions in competitive request-for-quote workflows.
• The bank said teams validated performance using multiple datasets on multiple IBM quantum systems.
• HSBC’s group head of quantum technologies, Philip Intallura, said the outcome offers a tangible example of quantum computers solving a business problem.
• IBM shares rose as much as 5% after the disclosure, as McKinsey projects the quantum market could reach up to $100 billion within a decade from about $4 billion last year.