Toshiba and Dharma Capital bid to bring quasi-quantum computing to HFT

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Japanese tech giant Toshiba is joining forces with Dharma Capital to trial the use of quasi-quantum technology in financial trading. The experiment will investigate the effectiveness of high frequency trading (HFT) strategies for Japanese listed stocks based on "optimal solutions" presented by a quasi-quantum computer -Toshiba’s Simulated Bifurcation Machine.Toshiba says that by combining its computing power with conventional HFT technology, it is now possible to search statistical arbitration opportunities that have not been targeted before, with a sufficient level of low latency against market price fluctuations. More broadly, establishing trading systems that can quickly detect ever-untargeted mispricings and eliminate them is expected to further improve market efficiency and liquidity, says the...

Goldman Sachs makes quantum breakthrough

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Goldman Sachs is claiming a quantum computing breakthrough, designing algorithms it says could be used on hardware that may be available in as little as five years. The bank has been working with Silicon Valley startup QC Ware for the past couple of years to investigate the use of quantum algorithms in finance, exploring how the technology will eventually outperform classical computers for finance applications.Researchers at the two firms have been looking at how quantum computing can be tapped for the Monte Carlo algorithm used to evaluate risk and simulate prices for a variety of financial instruments.Using traditional hardware, the complex calculations needed for Monte Carlo are typically executed once overnight, which means that in volatile markets, traders are forced to use...

Ally partners with Microsoft Azure to prepare quantum computing-ready workforce

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US fintech Ally Financial will collaborate with Microsoft on Azure Quantum solutions to develop quantum computing skills and explore how new algorithms and future quantum hardware could improve customer experience. With claims that the industry is reaching the limits of classical computing, quantum computing has become an attractive proposition. A quantum computer can perform calculations based on the probability of an object's state before it is measured - instead of just 1s or 0s and process more data compared to their traditional counterparts. Ally is collaborating with Microsoft as part of its Enterprise Acceleration Program (EAP) to resolve optimisation issues, as well as utilise available, rich data to support financial services professionals make better decisions, learn why a customer may contact a...

IBM sued by former employee over cloud computing trade secrets

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A former employee has sued International Business Machines Corp in New York federal court for allegedly stealing his trade secrets for its cloud computing business and forcing him out of the company.Gerald Hayden said in the lawsuit filed Monday in White Plains that he was “swimming with sharks” when he disclosed his secrets to IBM executives, who he said stole his IP after he had used it to win multi-million-dollar contracts for IBM from banks and financial services providers.To read the full story on Westlaw Today, click here: bit.ly/2OZMu2Y Source...