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Large Language Models (LLMs) excel at understanding context and qualitative nuances but struggle with the rigorous and transparent reasoning required in high-stakes quantitative domains such as financial trading. We propose a model-first…

Computational Finance · Quantitative Finance 2025-12-02 Xiaoting Kuang , Boken Lin

Natural language processing (NLP) has recently gained relevance within financial institutions by providing highly valuable insights into companies and markets' financial documents. However, the landscape of the financial domain presents…

Computation and Language · Computer Science 2024-01-29 Pau Rodriguez Inserte , Mariam Nakhlé , Raheel Qader , Gaetan Caillaut , Jingshu Liu

Accurate stock market predictions following earnings reports are crucial for investors. Traditional methods, particularly classical machine learning models, struggle with these predictions because they cannot effectively process and…

Computational Finance · Quantitative Finance 2024-11-13 Haowei Ni , Shuchen Meng , Xupeng Chen , Ziqing Zhao , Andi Chen , Panfeng Li , Shiyao Zhang , Qifu Yin , Yuanqing Wang , Yuxi Chan

The Black-Litterman model addresses the sensitivity issues of tra- ditional mean-variance optimization by incorporating investor views, but systematically generating these views remains a key challenge. This study proposes and validates a…

Portfolio Management · Quantitative Finance 2025-10-21 Youngbin Lee , Yejin Kim , Juhyeong Kim , Suin Kim , Yongjae Lee

While many studies show that more advanced LLMs excel in tasks such as mathematics and coding, we observe that in cryptocurrency trading, stronger LLMs sometimes underperform compared to weaker ones. To investigate this counterintuitive…

Multiagent Systems · Computer Science 2025-03-13 Qian Wang , Yuchen Gao , Zhenheng Tang , Bingqiao Luo , Nuo Chen , Bingsheng He

The rapid advancement of Large Language Models (LLMs) has led to a surge of financial benchmarks, evolving from static knowledge evaluation toward interactive trading simulations. However, existing frameworks for evaluating real-time…

Trading and Market Microstructure · Quantitative Finance 2026-05-28 Wentao Zhang , Mingxuan Zhao , Jincheng Gao , Jieshun You , Huaiyu Jia , Yilei Zhao , Bo An , Shuo Sun

The rapid advancement of Large Language Models (LLMs) has spurred discussions about their potential to enhance quantitative trading strategies. LLMs excel in analyzing sentiments about listed companies from financial news, providing…

Computation and Language · Computer Science 2024-05-07 Haohan Zhang , Fengrui Hua , Chengjin Xu , Hao Kong , Ruiting Zuo , Jian Guo

Large language models show promise for financial decision-making, yet deploying them as autonomous trading agents raises fundamental challenges: how to adapt instructions when rewards arrive late and obscured by market noise, how to…

Trading and Market Microstructure · Quantitative Finance 2026-05-21 Charidimos Papadakis , Angeliki Dimitriou , Giorgos Filandrianos , Maria Lymperaiou , Konstantinos Thomas , Giorgos Stamou

Large language models (LLMs) and their fine-tuning techniques have demonstrated superior performance in various language understanding and generation tasks. This paper explores fine-tuning LLMs for stock return forecasting with financial…

Computational Finance · Quantitative Finance 2024-08-06 Tian Guo , Emmanuel Hauptmann

We introduce Orion, a visual agent that integrates vision-based reasoning with tool-augmented execution to achieve powerful, precise, multi-step visual intelligence across images, video, and documents. Unlike traditional vision-language…

Computer Vision and Pattern Recognition · Computer Science 2025-11-21 N Dinesh Reddy , Dylan Snyder , Lona Kiragu , Mirajul Mohin , Shahrear Bin Amin , Sudeep Pillai

The financial domain poses substantial challenges for vision-language models (VLMs) due to specialized chart formats and knowledge-intensive reasoning requirements. However, existing financial benchmarks are largely single-turn and rely on…

Computer Vision and Pattern Recognition · Computer Science 2026-02-04 Chenxi Zhang , Ziliang Gan , Liyun Zhu , Youwei Pang , Qing Zhang , Rongjunchen Zhang

The ubiquity of payment networks generates vast transactional data encoding rich consumer and merchant behavioral patterns. Recent foundation models for transaction analysis process tabular data sequentially but rely on index-based…

Computation and Language · Computer Science 2026-01-12 Xiran Fan , Zhimeng Jiang , Chin-Chia Michael Yeh , Yuzhong Chen , Yingtong Dou , Menghai Pan , Yan Zheng

As Large Language Models (LLMs) become increasingly integrated into financial systems, understanding their behavioural properties is crucial. Do LLMs conform to the rational expectations paradigm, do they exhibit human-like "animal…

Trading and Market Microstructure · Quantitative Finance 2026-04-30 Maxime Saxena , Marco Pangallo , Cars Hommes , Fabio Caccioli , R. Maria del Rio-Chanona

The inherent volatility and dynamic fluctuations within the financial stock market underscore the necessity for investors to employ a comprehensive and reliable approach that integrates risk management strategies, market trends, and the…

Trading and Market Microstructure · Quantitative Finance 2024-11-13 Alhassan S. Yasin , Prabdeep S. Gill

Dynamic portfolio optimization is the process of sequentially allocating wealth to a collection of assets in some consecutive trading periods, based on investors' return-risk profile. Automating this process with machine learning remains a…

Machine Learning · Computer Science 2019-01-28 Pengqian Yu , Joon Sern Lee , Ilya Kulyatin , Zekun Shi , Sakyasingha Dasgupta

Recent advancements in large language models (LLMs) have opened new pathways for many domains. However, the full potential of LLMs in financial investments remains largely untapped. There are two main challenges for typical deep…

Statistical Finance · Quantitative Finance 2024-03-05 Hanshuang Tong , Jun Li , Ning Wu , Ming Gong , Dongmei Zhang , Qi Zhang

We present an autonomous framework that leverages Large Language Models (LLMs) to automate end-to-end business analysis and market report generation. At its core, the system employs specialized agents - Researcher, Reviewer, Writer, and…

Computation and Language · Computer Science 2025-08-05 Roman Koshkin , Pengyu Dai , Nozomi Fujikawa , Masahito Togami , Marco Visentini-Scarzanella

Cryptocurrencies are widely used, yet current methods for analyzing transactions often rely on opaque, black-box models. While these models may achieve high performance, their outputs are usually difficult to interpret and adapt, making it…

Cryptography and Security · Computer Science 2025-09-05 Yuchen Lei , Yuexin Xiang , Qin Wang , Rafael Dowsley , Tsz Hon Yuen , Kim-Kwang Raymond Choo , Jiangshan Yu

Multimodal Large Language Models (MLLMs) are reshaping how modern agentic systems reason over sequential user-behavior data. However, whether textual or image representations of user behavior data are more effective for maximizing MLLM…

Artificial Intelligence · Computer Science 2025-11-07 Tianning Dong , Luyi Ma , Varun Vasudevan , Jason Cho , Sushant Kumar , Kannan Achan

Text and time series data offer complementary views of financial markets: news articles provide narrative context about company events, while stock prices reflect how markets react to those events. However, despite their complementary…

Computational Engineering, Finance, and Science · Computer Science 2025-09-25 Ross Koval , Nicholas Andrews , Xifeng Yan
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