HSBC mulls outsourcing some fixed income trading: Bloomberg

LONDON: HSBC is considering outsourcing some of its fixed income trading order flow to a third-party firm, Bloomberg News reported on Monday, citing sources familiar with the matter.

The bank would continue to deal with its customers but would outsource some of the background processes such as technology, analytics and order execution, the Bloomberg report said.

The deliberations within HSBC are at an early stage and could fail to result in a deal, the report added.

The British bank is open to a deal with firms including Citadel Securities and Jane Street Group, Bloomberg said.

HSBC and Citadel Securities declined to comment to Reuters, while Jane Street Group did not immediately respond to a request for comment.

The potential deal comes amid a wider restructuring of HSBC’s businesses under new CEO Georges Elhedery.