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The bank applied quantum processing to an anonymized set of European bond trading data and found it could significantly enhance the efficiency of the market, with a 34% improvement in predicting how likely a bond will trade at a given price.
“Is this a ‘Sputnik moment’ for quantum? My instinct is yes,” said Philip Intallura, group head of quantum technologies at HSBC, referring to the pivotal event that sparked a space race between the US and Soviet Union during the Cold War. “It will create a flurry of activity” as others step up efforts to harness the technology, he added.
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