Algorithmic Trading

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Overview

Algorithmic trading studies how to turn market data and other information into rules for selecting assets, managing portfolios, and placing orders. Common approaches include statistical and machine-learning factors, deep reinforcement learning for portfolio choice or execution, market-making models, and newer language-model agents for research and strategy generation. Researchers test these systems with historical walk-forward backtests, limit-order-book simulations, and increasingly prospective or live evaluations, measuring returns alongside risk and trading costs. A central challenge is showing that apparent gains survive data leakage controls, changing market regimes, execution frictions, and the feedback effects of deploying similar strategies.

Latest papers

CardsList

149 papers27 papers in the last four weeks, up 59% on the four weeks before. 0.2% of all new papers.

  1. Financial Context-Rich Strategy for Actor-Critic based Agents: A Deep Reinforcement Learning Approach for Stock Trading

    Oct 23, 2026Hrishikesh Singh, Aarti Sharma, Millie PantAlgorithmic TradingActor-Critic Methods

    Department of Applied Mathematics & Scientific Computing, Indian Institute of Technology Roorkee, Roorkee, India

  2. Equilibria and Learning in Competitive Market Making

    Oct 22, 2026Matteo Onger, Luigi FoscariNash EquilibriumAlgorithmic Trading

    Department of Computer Science, University of Milan

  3. Governed Self-Evolution for Autonomous Investing: A Multi-Agent LLM System with an Invariant Core

    Oct 22, 2026Yebo Feng, Jingyang Dai, Liangrui Pan +3Self-Evolving AgentsMulti-Agent LLM Systems

    Nanyang Technological University Singapore, Singapore · University College London London, United Kingdom

  4. Quant-Arena: Benchmarking LLM Agents for Quantitative Trading Research

    Oct 21, 2026Houde Qian, Zheng Jiang, Wenyi Li +9Financial Language Model EvaluationAlgorithmic Trading

    Navers Lab, Einsia.AI

  5. LOB-Impact Benchmark: Emergent Market Impact in Generative Limit Order Book Models

    Oct 19, 2026George Nigmatulin, Valentin Mohl, Sascha Frey +6Limit Order Book ModelingGenerative Modeling

    British Open-ended Learning and Discovery Lab (BOLD), Department of Engineering Science, University of Oxford, Oxford, United Kingdom · British Open-ended Learning and Discovery Lab (BOLD), Department of Computer Science, University of Oxford, Oxford, United Kingdom · British Open-ended Learning and Discovery Lab (BOLD), Department of Statistics, University of Oxford, Oxford, United Kingdom +2

  6. Cooperative Multi-Agent Reinforcement Learning for Market Making on Prediction-Market Order Books

    Oct 19, 2026Skander LejmiAlgorithmic TradingCooperative MARL

    Department of Statistics, London School of Economics and Political Science

  7. The Control Layer Behind Rule-Following Agents Trading Across Market Conditions

    Oct 19, 2026Saad Naja, Nasser Odtallah, Jake Van-Praag +1AI Agent ReliabilityProcess-Based Agent Evaluation

    Hygentra AI

  8. ACE-Trader: Adversarial Co-Evolution for Generator-Critic Trading Systems

    Oct 19, 2026Chang Zhou, Jiarun Zhou, Xingtong Yu +3Algorithmic TradingMemory-Augmented Agents

    University of Science and Technology of China · The Chinese University of Hong Kong

  9. No-Regret Revenue Maximization in Sequential Market Making Under Inventory Constraints

    Oct 17, 2026Davide Maran, Marcello Restelli, Francesco Emanuele StradiAlgorithmic TradingRegret Minimization

    Politecnico di Milano

  10. StochLOB: Heavy-Tailed Score Matching for Robust Limit Order Book Trend Prediction

    Oct 15, 2026Arshia Abolghasemi, Seyed Reza Tavakoli, Parsa Naderi +7Limit Order Book ForecastingScore Matching

    Dataism Laboratory for Quantitative Finance · Sharif University of Technology · Amirkabir University of Technology +3

  11. When and How Order-Flow Interventions Work After Dealers Adapt

    Oct 13, 2026Guanghao Wu, Zhuo Cai, Zhidong Li +1Quantitative FinanceAlgorithmic Trading

    University of Technology Sydney Sydney, NSW, Australia

  12. EvoQuantLab: Training-Free Dual-Loop Evolution for Auditable Quantitative Research

    Oct 12, 2026Haolin Yang, Zhiqiang Qian, Chutian Chen +7Alpha Factor DiscoveryQuantitative Finance

    The Hong Kong University of Science and Technology · Microsoft · Tsinghua University +1

  13. Reinforcement Learning with Hawkes-Structured Networks for Market Making

    Oct 12, 2026Fernando Acero, Philipp Plank, Yufei ZhangHawkes ProcessesNon-Markovian RL

    Department of Mathematics, Imperial College London, United Kingdom

  14. AlphaRLM: Aligning Language Models for Literature-Grounded Symbolic Factor Discovery

    Oct 10, 2026Jie Huang, Yuecheng Hong, Yao Chen +6Quantitative FinanceAlgorithmic Trading

    Harbin Institute of Technology · Independent Researcher · University of Science and Technology of China

  15. SwingGuard: Risk-Conditioned Multi-Agent Swing Trading with Dual-Timescale Governance

    Oct 9, 2026Junzhou Su, Yichen Luo, Yebo Feng +2Algorithmic TradingAI Agent Governance

    Xidian University · University College London · The University of Hong Kong +1

  16. Market Impact Estimation via Causal Foundation Models

    Oct 8, 2026Dennis Thumm, Ying ChenQuantitative FinanceAlgorithmic Trading

    National University of Singapore Singapore, Singapore

  17. SOTA: Stock Options Trading Agents Guided by Option-Implied Return Distributions

    Oct 7, 2026Yizhen Xie, Mengyang LiuAlgorithmic TradingQuantitative Finance

    Carnegie Mellon University · Amazon

  18. Optimal Regret for Online Market Making with Limit Order Book

    Oct 7, 2026Maria Elena Vischi, Francesco Emanuele Stradi, Alberto MarchesiAlgorithmic TradingLimit Order Book Modeling

    Politecnico di Milano

  19. Forecast Accuracy Is Not Trading Profit: Evolving Small Recurrent Networks for Stock Return Prediction

    Oct 6, 2026Jonathan Chang, Zimeng LyuTime Series ForecastingRecurrent Neural Networks

    Union County Magnet High School Scotch Plains, New Jersey, USA · Kean University Union, New Jersey, USA

  20. Adversarial Training for Deep Hedging in Nonstationary Markets

    Oct 5, 2026Philipp J. Schneider, Lukas Looser, Antoine Garin +2Adversarial TrainingQuantitative Finance

    Risk Analytics and Optimization Chair, EPFL, Lausanne, Switzerland · University of Waterloo, Waterloo, Canada

  21. How Execution Assumptions Change Short-Horizon Sharpe Rankings: Evidence from a Synthetic Trading Benchmark

    Oct 4, 2026Weicheng XueQuantitative FinanceLLM Agent Evaluation

    Virginia Tech

  22. Mixture-of-Experts for Cryptocurrency Order Execution: Training Stability, Tail Risk, and Failure Modes

    Oct 2, 2026Alexander Ardaiz, Varun Budati, Ali HabibniaReinforcement LearningAlgorithmic Trading

    Virginia Tech, Blacksburg, Virginia, USA · Dataism Laboratory for Quantitative Finance, Blacksburg, Virginia, USA

  23. Trading Strategy Optimization via Textual Gradient

    Oct 2, 2026Chaoqun Yang, Qian Wang, Fengbin Zhu +4Algorithmic TradingLarge Language Model-Guided Optimization

    National University of Singapore

  24. MintEval: Do LLMs Implement the Trading Strategy You Asked For? A Behavioural-Equivalence Benchmark for Natural-Language-to-Strategy Code

    Oct 2, 2026Siyu Wang, Yifan Wang, Yuecheng HeLLM EvaluationCode Generation Evaluation

    Fudan University Shanghai, China

  25. PPO-HRAP: Proximal Policy Optimization with a Hybrid Regime-Aware Policy for Risk-Controlled Trading

    Oct 1, 2026Duong Hien Chi Kien, Thanh Trung HuynhReinforcement LearningRisk-Sensitive RL

    College of Engineering and Computer Science, VinUniversity Ha Noi, Viet Nam

  26. QuantCode Model: Specializing Language Models for Executable Algorithmic Trading Code

    Sep 30, 2026Alexey Chernysh, Orkhan Ekhtibarov, Dmitry ZmitrovichLLM Fine-TuningDomain-Adaptive Pretraining

  27. Can AI Make Money in Crypto? Measuring the Gap from Backtests to Real Markets

    Sep 28, 2026Xingtong Yu, Jiarun Zhou, Guanlin Ding +12Algorithmic Trading

    The Chinese University of Hong Kong · University of Science and Technology of China · Jilin University +3

  28. Taming the Greeks: Option Portfolios with Inductive Biases

    Sep 27, 2026Wee Ling Tan, Stephen Roberts, Stefan ZohrenQuantitative FinancePortfolio Optimization

    Department of Engineering Science Oxford-Man Institute of Quantitative Finance University of Oxford

  29. LiveOption: Evaluating LLM Agents in Structured Option Trading with Nonlinear Payoffs

    Sep 27, 2026Haochen Luo, Yifan Li, Binh Minh An +4Quantitative FinanceLLM Agent Evaluation

    City University of Hong Kong · The Chinese University of Hong Kong (Shenzhen) · Shanghai University of Finance and Economics

  30. ReLOBGen: Replayable Limit Order Book Message Generation

    Sep 26, 2026Junoh Kang, Kiseop Lee, Bohyung HanSynthetic Data GenerationLimit Order Book Modeling

    ECE & 3IPAI, Seoul National University · Department of Statistics, Purdue University · 3IPAI, Seoul National University