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HSBC Finds Quantum Computing Boosts Bond Trading Efficiency

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HSBC, Europe’s largest bank, announced on Thursday that a quantum computing trial with IBM has produced promising results for bond trading, marking one of the first real-world finance applications of the emerging technology.

The pilot delivered a 34% improvement in predicting the likelihood that a bond trade would be filled at a quoted price, giving HSBC a potential competitive edge over traditional computing methods.

Quantum computing uses the principles of quantum physics to solve complex problems far faster than classical computers. While the technology remains in its early stages with few proven applications, it is seen as having transformative potential for industries such as finance, logistics, and pharmaceuticals.

According to a McKinsey report in June, the global quantum technology market could reach $100 billion within a decade, up from just $4 billion in revenue last year, driven largely by advancements in quantum computing.

HSBC said its experiment combined quantum and classical computing to price trades in the European corporate bond market. Automated algorithms calculate trade prices for client inquiries in real time, factoring in both market conditions and risk.

“This means we now have a tangible example of how today’s quantum computers could solve a real-world business problem at scale,” said Philip Intallura, HSBC’s group head of quantum technologies.

EU Seeks Private Investment to Lead Quantum Technology by 2030

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The European Union is turning to private funding to strengthen its position in quantum technology, aiming to reduce dependence on the U.S. and China, EU tech chief Henna Virkkunen announced Wednesday. Quantum computing promises vastly faster processing speeds than traditional computers and could revolutionize various sectors, potentially generating trillions of dollars in value over the next decade, according to McKinsey.

Virkkunen highlighted that while Europe has already invested over 11 billion euros ($13 billion) in public funding for quantum technology over the past five years, only 5% of global private investments flow to Europe. To address this gap, the EU plans to intensify efforts to attract private capital in the coming months.

The EU Quantum Strategy also calls for greater collaboration among member states to pool expertise, enhance research and infrastructure, and support a vibrant ecosystem of startups and scale-ups. A key focus is helping startups avoid acquisition by foreign entities or relocation to regions with better funding opportunities.

Looking ahead, the European Commission intends to propose a “Quantum Act” next year to build on the strategy and further promote Europe’s quantum ambitions.