HSBC mulls outsourcing some fixed income trading, Bloomberg News reports

Reuters

Mon, Mar 24, 2025, 10:14 AM 1 min read

LONDON (Reuters) - HSBC is considering outsourcing immoderate of its fixed income trading bid travel to a third-party firm, Bloomberg News reported connected Monday, citing sources acquainted with the matter.

The slope would proceed to woody with its customers but would outsource immoderate of the inheritance processes specified arsenic technology, analytics and bid execution, the Bloomberg study said.

The deliberations wrong HSBC are astatine an aboriginal signifier and could neglect to effect successful a deal, the study added.

The British slope is unfastened to a woody with firms including Citadel Securities and Jane Street Group, Bloomberg said.

HSBC and Citadel Securities declined to remark to Reuters, portion Jane Street Group did not instantly respond to a petition for comment.

The imaginable woody comes amid a wider restructuring of HSBC's businesses nether caller CEO Georges Elhedery.

Since his assignment past July, Elhedery has already slashed hundreds of elder jobs astatine the Asia-focused bank, chopped backmost its deals teams successful the West and reorganised its operating units successful a bid to chopped costs and reconstruct absorption to its sprawling business.

The imaginable statement besides underlines however banks are progressively losing concern successful immoderate trading areas to dedicated non-bank marketplace makers consenting oregon capable to put much heavy successful technology.

(Reporting by Lawrence White; Editing by Joe Bavier)