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Bilateral markets, such as those for government bonds, involve decentralized and opaque transactions between market makers (MMs) and clients, posing significant challenges for traditional modeling approaches. To address these complexities,…

Trading and Market Microstructure · Quantitative Finance 2025-03-05 Alicia Vidler , Toby Walsh

Large Language Models (LLMs), prominently highlighted by the recent evolution in the Generative Pre-trained Transformers (GPT) series, have displayed significant prowess across various domains, such as aiding in healthcare diagnostics and…

Portfolio Management · Quantitative Finance 2023-09-08 Yang Li , Yangyang Yu , Haohang Li , Zhi Chen , Khaldoun Khashanah

Vision-Language Models (VLMs) enable powerful multi-agent systems, but scaling them is economically unsustainable: coordinating heterogeneous agents under information asymmetry often spirals costs. Existing paradigms, such as…

Artificial Intelligence · Computer Science 2026-01-27 Jusheng Zhang , Yijia Fan , Kaitong Cai , Jing Yang , Jiawei Yao , Jian Wang , Guanlong Qu , Ziliang Chen , Keze Wang

Cryptocurrency investment is inherently difficult due to its shorter history compared to traditional assets, the need to integrate vast amounts of data from various modalities, and the requirement for complex reasoning. While deep learning…

Trading and Market Microstructure · Quantitative Finance 2025-01-08 Yichen Luo , Yebo Feng , Jiahua Xu , Paolo Tasca , Yang Liu

LLM-based financial agents increasingly rely on both numerical market data and textual signals for sequential trading and stock prediction. However, financial misinformation often appears as subtle textual perturbations rather than explicit…

Computational Engineering, Finance, and Science · Computer Science 2026-05-12 Zhiwei Liu , Yangyang Yu , Yupeng Cao , Yuechen Jiang , Haohang Li , Zhuoran Lu , Yuyan Wang , Yixiang Zheng , Xiaorui Guo , Calvin Yixiang Cheng , Sophia Ananiadou

A recent line of work in mechanism design has focused on guaranteeing incentive compatibility for agents without contingent reasoning skills: obviously strategyproof mechanisms guarantee that it is "obvious" for these imperfectly rational…

Computer Science and Game Theory · Computer Science 2023-12-14 Thomas Archbold , Bart de Keijzer , Carmine Ventre

Large Language Models (LLMs) have demonstrated remarkable potential as autonomous agents, approaching human-expert performance through advanced reasoning and tool orchestration. However, decision-making in fully dynamic and live…

Computational Finance · Quantitative Finance 2025-12-15 Tianyu Fan , Yuhao Yang , Yangqin Jiang , Yifei Zhang , Yuxuan Chen , Chao Huang

Numerous generalization techniques have been proposed for privacy preserving data publishing. Most existing techniques, however, implicitly assume that the adversary knows little about the anonymization algorithm adopted by the data…

Databases · Computer Science 2010-03-29 Xiaokui Xiao , Yufei Tao , Nick Koudas

The autonomous trading agent is one of the most actively studied areas of artificial intelligence to solve the capital market portfolio management problem. The two primary goals of the portfolio management problem are maximizing profit and…

Trading and Market Microstructure · Quantitative Finance 2019-09-10 Wonsup Shin , Seok-Jun Bu , Sung-Bae Cho

Algorithmic trading, due to its inherent nature, is a difficult problem to tackle; there are too many variables involved in the real world which make it almost impossible to have reliable algorithms for automated stock trading. The lack of…

Artificial Intelligence · Computer Science 2020-01-28 Abhishek Nan , Anandh Perumal , Osmar R. Zaiane

We introduce \textsc{Cattle Trade, a multi-agent benchmark for evaluating large language models (LLMs) as agents in strategic reasoning under imperfect information, adversarial interaction, and resource constraints. The benchmark combines…

Artificial Intelligence · Computer Science 2026-05-15 Robert Müller , Clemens Müller

We present a framework for training trustworthy large language model (LLM) agents for optimization modeling via a verifiable synthetic data generation pipeline. Focusing on linear and mixed-integer linear programming, our approach begins…

Artificial Intelligence · Computer Science 2025-08-06 Vinicius Lima , Dzung T. Phan , Jayant Kalagnanam , Dhaval Patel , Nianjun Zhou

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

Two-sided matching markets, environments in which two disjoint groups of agents seek to partner with one another, arise in several contexts. In static, centralized markets where agents know their preferences, standard algorithms can yield a…

Computer Science and Game Theory · Computer Science 2025-04-08 Vade Shah , Bryce L. Ferguson , Jason R. Marden

In recent years, deep reinforcement learning (Deep RL) has been successfully implemented as a smart agent in many systems such as complex games, self-driving cars, and chat-bots. One of the interesting use cases of Deep RL is its…

Machine Learning · Computer Science 2023-09-27 Foozhan Ataiefard , Hadi Hemmati

LLM-based agents can execute actions that are syntactically valid, user-sanctioned, and semantically appropriate, yet still violate organizational policy because the facts needed for correct policy judgment are hidden at decision time. We…

Artificial Intelligence · Computer Science 2026-04-15 Jie Wu , Ming Gong

Machine learning (ML) algorithms are heavily based on the availability of training data, which, depending on the domain, often includes sensitive information about data providers. This raises critical privacy concerns. Anonymization…

Machine Learning · Computer Science 2025-11-03 Héber H. Arcolezi , Mina Alishahi , Adda-Akram Bendoukha , Nesrine Kaaniche

We develop a rigorous walk-forward validation framework for algorithmic trading designed to mitigate overfitting and lookahead bias. Our methodology combines interpretable hypothesis-driven signal generation with reinforcement learning and…

Trading and Market Microstructure · Quantitative Finance 2025-12-16 Gagan Deep , Akash Deep , William Lamptey

Although Large Language Model (LLM)-based agents are increasingly used in financial trading, it remains unclear whether they can reason and adapt in live markets, as most studies test models instead of agents, cover limited periods and…

The advancement of large language models (LLMs) has accelerated the development of autonomous financial trading systems. While mainstream approaches deploy multi-agent systems mimicking analyst and manager roles, they often rely on abstract…

Artificial Intelligence · Computer Science 2026-02-27 Kunihiro Miyazaki , Takanobu Kawahara , Stephen Roberts , Stefan Zohren