HSBC Launches New Google Cloud Risk Trading Tool

HSBC has launched a new Risk Advisory tool that leverages Google Cloud technology to harvest data points to allow its traders and risk managers to mitigate potential risk. The new tool allows the bank’s traders and risk managers to run “what if” scenarios intraday to assess the necessary capital requirements to cushion any potential ratings downgrades and default risk of corporate bonds among other credit products. As the market continues its migration to more sustainable forms of investment, HSBC confirmed that its risk development team had plans to adapt the tool later down the line in a way that could help its traders understand the level of susceptibility their books had to climate risk by considering environmental social and corporate governance (ESG) scores.

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