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Multiverse Computing’s Quantum-based Fair Price Solution a Step Toward Quantum Advantage in Finance

Multiverse Computing says its new solution will enhance the speed and accuracy of stock valuations for financial institutions compared to current classical computing methods.

PRESS RELEASE — Multiverse Computing today announced a new Fair Price solution to its Singularity® financial quantum computing solution, enhancing the speed and accuracy of stock valuations for financial institutions over current classical computing methods.

To reduce risk, financial institutions determine the fair price of a stock by calculating the theoretical value of companies using Monte Carlo simulations on classical computers. Requiring extremely high accuracy to minimize losses, institutions commonly run simulations on supercomputers that take up to 24 hours or more to complete.

Using trapped ion quantum computers from IonQ with common PC-based software tools, the Singularity Fair Price solution can reduce error rates by 43% without increasing the number of runs or runtime. To achieve the same accuracy on a classical computer would take over seven times the number of runs, enabling financial institutions to achieve a more accurate valuation more quickly.

Below is a chart from a paper by Multiverse Computing’s scientific team, titled Quantum Portfolio Value Forecasting, showing the reduction in Fair Price errors in different market categories:

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“The Fair Price feature on our Singularity platform is designed to give financial institutions an edge in portfolio optimization using quantum computers from our preferred partner IonQ,” said Enrique Lizaso, CEO of Multiverse Computing. “This new feature is a perfect complement to our Singularity product, making it easy for the financial community to leverage quantum computing today for demonstrated value even at this early stage of the industry.”

Developed by quantum scientists with finance industry professionals, Singularity offers intuitive, simple front-ends and plugins for common PC-based applications such as Microsoft Excel to enable financial professionals to access the power of quantum computing without requiring previous expertise or knowledge.

The platform determines the optimal hardware and type of algorithm to deliver immediate business value.

Multiverse currently works with Crédit Agricole CIB, the corporate and investment banking arm of Crédit Agricole Group, the 12th-largest banking group worldwide, BBVA, one of the world’s largest financial institutions, and other major firms in the financial industry.

About Multiverse Computing
Multiverse Computing is a leading quantum software company that applies quantum and quantum-inspired solutions to tackle complex problems in finance to deliver value today and enable a more resilient and prosperous economy. The company’s expertise in quantum control and computational methods as well as finance means it can secure maximum results from current quantum devices. Its flagship product, Singularity, allows financial professionals to leverage quantum computing with common software tools. The company is headquartered in San Sebastian, Spain with offices in Toronto, Canada and Paris.

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Matt Swayne

With a several-decades long background in journalism and communications, Matt Swayne has worked as a science communicator for an R1 university for more than 12 years, specializing in translating high tech and deep tech for the general audience. He has served as a writer, editor and analyst at The Quantum Insider since its inception. In addition to his service as a science communicator, Matt also develops courses to improve the media and communications skills of scientists and has taught courses. [email protected]

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