HSBC, IBM Quantum Trial Improves Trade Fills 34%

HSBC and IBM ran a trial combining IBM quantum processors with classical computing and AI models to improve algorithmic bond trading. Tested on European corporate bond markets and Request-for-Quote workflows, the experiment delivered up to a 34% improvement in predicting whether a trade would be filled at a quoted price compared with classical-only methods. The trial used IBM’s Heron processor and validated multiple types of trading data across several IBM quantum systems in a hybrid quantum‑classical setup. HSBC’s head of quantum technologies Philip Intallura called the results a "Sputnik moment," and IBM quantum leaders say scaling the technology could transform industries. Analysts cautioned the work remains early research — questions remain about repeatability, scalability, cryogenic and infrastructure costs, and commercial timelines — and the announcement briefly lifted IBM shares.