SAiFE-gym: Model-based Environments for Automated Market Making with Concentrated Liquidity

Niche asset markets, such as Counter-Strike 2 (CS2) weapon skins, are small, volatile, and heavily driven by community discussions and platform rules. These properties make them hard for traditional quantitative models, but provide an ideal testbed for studying how large language models (LLMs) turn unstructured text into trading actions. We present CSTrader, a multi-agent framework for language-grounded trading in the CS2 skin market. The system first integrates heterogeneous signals from various sources, then uses specialized agents for technical analysis, liquidity, events, and (reversed) sentiment, and finally applies risk control, transaction friction, and portfolio management agents to produce buy, sell, or hold decisions under realistic trading frictions. We build a live-like evaluation environment with real CS2 data from a highly volatile period and evaluate several recent LLM backbones. Across models, CSTrader consistently outperforms both a falling market index (-15.62%) and simple single-prompt LLM baselines, achieving up to a 7.58% cumulative return with controlled risk. Ablation studies show that liquidity, reversed sentiment, and transaction friction agents are crucial for turning noisy language signals into stable profits, suggesting that niche, language-driven markets are a useful benchmark for future language-to-action research. Code is available at: https://github.com/IatomicreactorI/CSGOTrading?tab=readme-ov-file#quick-start

In financial trading, large language model (LLM)-based agents demonstrate significant potential, but their decisions can be sensitive to noisy and non-stationary market information. We propose ContestTrade, a multi-agent trading system with an internal competitive mechanism inspired by institutional investment workflows. The system consists of two specialized teams: (1) a Data Team that processes and condenses massive market data into diversified textual factors optimized for constrained LLM context windows, and (2) a Research Team that produces parallelized multipath trading decisions via tool-augmented deep research. The core design is a "Quantify-Predict-Allocate" contest mechanism within each team: agent outputs are scored only after market outcomes become observable, future utility is predicted from historical scores, and resources are allocated to agents with positive predicted utility. In a post-2024 A-share backtest, ContestTrade achieves higher backtested return and risk-adjusted performance than the evaluated baselines. We further describe the temporal protocol, implementation choices, and limitations to clarify the scope of these results.

Recent deployments of large language models (LLMs) as autonomous trading agents raise questions about whether financial decision-making competence generalizes beyond specific market patterns and how it should be trained and evaluated in noisy markets lacking ground truth. We propose a structured framework for training and evaluating such models. Central to our approach is a curated, multiple-choice question (MCQ) dataset derived from classic textbooks and historical markets, verified by an AI committee, enriched with structured reasoning traces, and augmented to reduce shortcut learning. To evaluate whether performance on isolated MCQs generalizes to real-world trading, we introduce a two-stage protocol combining test-set evaluation with an MCQ-based chronological trading simulation. Extensive evaluations across market regimes provide statistically robust evidence that open models trained with our framework exhibit competitive, risk-aware behavior over time, outperform open-source baselines, and approach frontier-model performance at smaller scale. We release the dataset and evaluation framework to support further research.