HSBC Launches AI Pricing Chatbot for FX Options

Investment bank HSBC has launched a pricing chatbot that uses artificial intelligence to give clients instant pricing and analytics for foreign exchange (FX) options. Named Sympricot, the chatbot uses natural language processing (NLP) to gather and analyze information on market color, pricing and liquidity, including sources of information otherwise difficult to obtain such as event weightings, relative value analytics and volatility time-series charting. HSBC said the system would reduce operational risk and eliminate repetitive and unnecessary manual tasks previously associated with gathering complex trading information for clients.