HSBC Unveils FX Options Chatbot
Posted by Colin Lambert. Last updated: February 8, 2021
HSBC has launched Sympricot, a chatbot that distributes FX options pricing and analytics to the bank’s staff and clients.
While FX options pricing and analytics have long been available on most single dealer platforms, the chatbot seeks to take this a stage further by using natural language processing (NLP) to analyse information from numerous sources on market colour, pricing and liquidity. It then digitises and distributes the information.
The bank says that Sympricot provides easy access to information that would have previously been difficult to obtain, including event weightings, relative-value analytics and volatility time-series charting. This approach allows users to retrieve specific items of data quickly from a wide variety of sources.