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Wall Street Banks Ramp Up Research Into Quantum Finance


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Wall Street.

Some Wall Street banks have stepped up their research into quantum computing.

Credit: marketwatch.com

Wall Street banks are accelerating their research into quantum computing.

The banks are devising new types of algorithms that can run on quantum systems to tackle optimization problems that analyze a large number of potential outcomes and select the most desirable by exploiting quantum computing's probabilistic nature.

This work concentrates on Monte Carlo simulations, complex calculations that banks typically use daily to assess their overall risk positions.

The banks also hope quantum computers will significantly shorten risk-position analysis and enable on-the-fly adjustments.

Goldman Sachs' Paul Burchard thinks real-time price quoting on financial products will open up larger markets. Shen said, "If you can recalibrate your models fast, you can give better execution to clients."

From Financial Times
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