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This paper is intended to explain, in simple terms, some of the mechanisms and agents common to multiagent financial market simulations. We first discuss the necessity to include an exogenous price time series ("the fundamental value") for…

Multiagent Systems · Computer Science 2019-09-26 David Byrd

Exploring complex adaptive financial trading environments through multi-agent based simulation methods presents an innovative approach within the realm of quantitative finance. Despite the dominance of multi-agent reinforcement learning…

Computational Finance · Quantitative Finance 2024-05-07 Alicia Vidler , Toby Walsh

This paper presents a Multi Agent Bitcoin Trading system that utilizes Large Language Models (LLMs) for alpha generation and portfolio management in the cryptocurrencies market. Unlike equities, cryptocurrencies exhibit extreme volatility…

Portfolio Management · Quantitative Finance 2025-11-17 Aadi Singhi

Designing a financial market that works well is very important for developing and maintaining an advanced economy, but is not easy because changing detailed rules, even ones that seem trivial, sometimes causes unexpected large impacts and…

Trading and Market Microstructure · Quantitative Finance 2021-01-08 Takanobu Mizuta

Significant advancements have occurred in the application of Large Language Models (LLMs) for social simulations. Despite this, their abilities to perform teaming in task-oriented social events are underexplored. Such capabilities are…

Artificial Intelligence · Computer Science 2025-08-18 Yuan Li , Lichao Sun , Yixuan Zhang

We present a new model for prediction markets, in which we use risk measures to model agents and introduce a market maker to describe the trading process. This specific choice on modelling tools brings us mathematical convenience. The…

Computer Science and Game Theory · Computer Science 2014-03-05 Jinli Hu , Amos Storkey

Multi-agent market simulators usually require careful calibration to emulate real markets, which includes the number and the type of agents. Poorly calibrated simulators can lead to misleading conclusions, potentially causing severe loss…

Trading and Market Microstructure · Quantitative Finance 2022-10-19 Andrea Coletta , Aymeric Moulin , Svitlana Vyetrenko , Tucker Balch

Recent advances in large language models (LLMs) are transforming data-intensive domains, with finance representing a high-stakes environment where transparent and reproducible analysis of heterogeneous signals is essential. Traditional…

Multiagent Systems · Computer Science 2025-12-29 Marc S. Montalvo , Hamed Yaghoobian

We introduce FinDebate, a multi-agent framework for financial analysis, integrating collaborative debate with domain-specific Retrieval-Augmented Generation (RAG). Five specialized agents, covering earnings, market, sentiment, valuation,…

Computation and Language · Computer Science 2025-09-23 Tianshi Cai , Guanxu Li , Nijia Han , Ce Huang , Zimu Wang , Changyu Zeng , Yuqi Wang , Jingshi Zhou , Haiyang Zhang , Qi Chen , Yushan Pan , Shuihua Wang , Wei Wang

Recent advancements in financial problem-solving have leveraged LLMs and agent-based systems, with a primary focus on trading and financial modeling. However, credit assessment remains an underexplored challenge, traditionally dependent on…

Computation and Language · Computer Science 2025-07-31 Gautam Jajoo , Pranjal A Chitale , Saksham Agarwal

Market makers play a key role in financial markets by providing liquidity. They usually fill order books with buy and sell limit orders in order to provide traders alternative price levels to operate. This paper focuses precisely on the…

Machine Learning · Computer Science 2021-12-10 Oscar Fernández Vicente , Fernando Fernández Rebollo , Francisco Javier García Polo

This study addresses the low-volatility Chinese Public Real Estate Investment Trusts (REITs) market, proposing a large language model (LLM)-driven trading framework based on multi-agent collaboration. The system constructs four types of…

Statistical Finance · Quantitative Finance 2026-02-03 Zheng Li

Recent advancements have underscored the potential of large language model (LLM)-based agents in financial decision-making. Despite this progress, the field currently encounters two main challenges: (1) the lack of a comprehensive LLM agent…

The paper gives picture of enrichment to economic and financial system analysis using agent-based models as a form of advanced study for financial economic data post-statistical-data analysis and micro-simulation analysis. Theoretical…

Adaptation and Self-Organizing Systems · Physics 2008-12-02 Hokky Situngkir , Yohanes Surya

Multi-agent systems offer a new and exciting way of understanding the world of work. We apply agent-based modeling and simulation to investigate a set of problems in a retail context. Specifically, we are working to understand the…

Artificial Intelligence · Computer Science 2013-05-30 Peer-Olaf Siebers , Uwe Aickelin , Helen Celia , Chris Clegg

This paper presents a multiagent approach as a paradigm for scheduling parallel jobs in a parallel system. Scheduling parallel jobs is performed as a means to balance the load of a system in order to improve the performance of a parallel…

Distributed, Parallel, and Cluster Computing · Computer Science 2015-06-29 Jaderick P. Pabico

Context: Manual qualitative data analysis is time-intensive and can compromise validity and replicability, affecting analysis design, implementation, and reporting. Large Language Models (LLMs) enable human-bot collaboration in Software…

Software Engineering · Computer Science 2025-10-14 Zeeshan Rasheed , Muhammad Waseem , Aakash Ahmad , Kai-Kristian Kemell , Wang Xiaofeng , Anh Nguyen Duc , Pekka Abrahamsson

Intelligent agents offer a new and exciting way of understanding the world of work. Agent-Based Simulation (ABS), one way of using intelligent agents, carries great potential for progressing our understanding of management practices and how…

Artificial Intelligence · Computer Science 2010-07-05 Peer-Olaf Siebers , Uwe Aickelin , Helen Celia , Chris Clegg

LLM-based trading agents are increasingly deployed in real-world financial markets to perform autonomous analysis and execution. However, their reliability and robustness under adversarial or faulty conditions remain largely unexamined,…

Artificial Intelligence · Computer Science 2025-12-03 Lewen Yan , Jilin Mei , Tianyi Zhou , Lige Huang , Jie Zhang , Dongrui Liu , Jing Shao

Simulated environments are increasingly used by trading firms and investment banks to evaluate trading strategies before approaching real markets. Backtesting, a widely used approach, consists of simulating experimental strategies while…

Artificial Intelligence · Computer Science 2021-10-27 Andrea Coletta , Matteo Prata , Michele Conti , Emanuele Mercanti , Novella Bartolini , Aymeric Moulin , Svitlana Vyetrenko , Tucker Balch