Orientom, a developer of quantum financial algorithms, has announced plans to develop a middleware platform containing all quantum financial algorithms by 2030. The announcement, made at the AI Festa Quantum 3.0 Forum, outlines a strategy to address the computational limitations of traditional models for derivatives pricing and risk management.
The company is developing a hybrid quantum-classical approach to tackle complex financial problems. The platform, intended to be a cloud hub service, will provide an interface for users to apply quantum calculation modules to various financial products. Orientom is currently working on a national project for derivatives evaluation with Kookmin Bank and Yonsei University, with the goal of developing an algorithm that can be utilized in a commercial financial environment.
This initiative is positioned as a way to change the computational paradigm in the financial industry. Jeong-Ho Chu, Director of Orientom, noted that if the hybrid algorithm is successfully applied to finance, it could be extended to other HPC domains, such as fluid dynamics. This strategy aligns with a broader trend of financial institutions exploring quantum applications, such as the recent HSBC/IBM collaboration on algorithmic bond trading.
Read the full announcement here.
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