HSBC and IBM have announced the first known empirical evidence of the potential value of current quantum computers for solving real-world problems in algorithmic bond trading. Working with a team from IBM, HSBC leveraged a hybrid approach that utilized quantum and classical computing resources to deliver up to a 34% improvement in predicting the probability that a trade would be filled at a quoted price, compared to common classical techniques.
The trial was conducted on multiple IBM Quantum Heron processors, using real and production-scale trading data to predict the probability of winning customer inquiries in the European corporate bond market. The research paper on the project notes that the inherent noise in the current quantum hardware may have contributed to this effect, suggesting a unique interplay between quantum systems and financial modeling. The results, which were not reproducible on classical computers simulating quantum computers, show the value quantum computers could offer when integrated into the dynamic problems facing the financial services industry.
Philip Intallura, HSBC Group Head of Quantum Technologies, commented that the trial delivered positive results on current quantum hardware, indicating that the technology has potential for applications in financial services. Jay Gambetta, Vice President of IBM Quantum, noted that the work shows what is possible when domain expertise is integrated with algorithm research and the strengths of classical approaches are combined with the computational space offered by quantum computers.
Read the full announcement in the HSBC news release here and the IBM Quantum blog post here. For a technical deep-dive, see the arXiv paper here and watch the related video here.
September 25, 2025
