@inproceedings{li-etal-2025-quantagents,
    title = "{Q}uant{A}gents: Towards Multi-agent Financial System via Simulated Trading",
    author = "Li, Xiangyu  and
      Zeng, Yawen  and
      Xing, Xiaofen  and
      Xu, Jin  and
      Xu, Xiangmin",
    editor = "Christodoulopoulos, Christos  and
      Chakraborty, Tanmoy  and
      Rose, Carolyn  and
      Peng, Violet",
    booktitle = "Findings of the Association for Computational Linguistics: EMNLP 2025",
    month = nov,
    year = "2025",
    address = "Suzhou, China",
    publisher = "Association for Computational Linguistics",
    url = "https://preview.aclanthology.org/author-page-yu-wang-polytechnic/2025.findings-emnlp.945/",
    doi = "10.18653/v1/2025.findings-emnlp.945",
    pages = "17438--17464",
    ISBN = "979-8-89176-335-7",
    abstract = "In this paper, our objective is to develop a multi-agent financial system that incorporates $simulated trading$, a technique extensively utilized by financial professionals. While current LLM-based agent models demonstrate competitive performance, they still exhibit significant deviations from real-world fund companies. A critical distinction lies in the agents' reliance on ``post-reflection'', particularly in response to adverse outcomes, but lack a distinctly human capability: long-term prediction of future trends. Therefore, we introduce $QuantAgents$, a multi-agent system integrating simulated trading, to comprehensively evaluate various investment strategies and market scenarios without assuming actual risks. Specifically, QuantAgents comprises four agents: a simulated trading analyst, a risk control analyst, a market news analyst, and a manager, who collaborate through several meetings. Moreover, our system incentivizes agents to receive feedback on two fronts: performance in real-world markets and predictive accuracy in simulated trading. Extensive experiments demonstrate that our framework excels across all metrics, yielding an overall return of nearly 300{\%} over the three years (https://quantagents.github.io)."
}