The paper introduces the Generic Multi-Agent Trading System (GMATS), a framework for studying how large language model (LLM) based trading stacks react to black-box, input-only attacks that inject plausible social‑media content. It defines contagion metrics—belief‑shift scores at analyst and coordinator layers and attack‑clean deltas on backtest metrics—to trace the spread of adversarial signals. Experiments on a safe offline benchmark show that even simple attackers can significantly degrade risk‑return profiles, while certain multi‑agent topologies and coordinator prompts can mitigate these effects.
By Qi Rong Sua, Junhao Dong, Nguyen Duc Thai, Yuqing Wen, Cheston Tan, Yew-Soon Ong
The paper introduces FARSIGHT, a framework for evaluating the robustness and security of financial trading agents powered by large language models. It assesses agents on their resilience to market turbulence, such as flash crashes, and their vulnerability to three types of attacks: on information sources, on the agents themselves, and on agents acting as attackers. Applying FARSIGHT to 15 academic trading schemes reveals that 80% fail at least one robustness test and all exhibit security weaknesses, highlighting the risk of market-wide crashes from both accidental misjudgments and deliberate attacks.
By Mengxiao Wang, Nitesh Saxena
The paper "SoK: Trading Agents or Market Crashers? Dissecting Robustness and Security Failures in Academic Financial LLM Trading Schemes" introduces FARSIGHT, a framework that evaluates financial LLM agents on robustness to market turbulence and security against three attack types. Applying FARSIGHT to 15 academic schemes reveals that 80% fail at least one robustness metric and all exhibit security vulnerabilities, highlighting the risk that a single compromised agent can trigger market-wide crashes.
arXiv:2606. 12918v1 Announce Type: cross Abstract: Hierarchical multi-agent systems (MAS) are rapidly being deployed in high-stakes workflows across domains such as finance and software engineering.
By Chejian Xu, Zhaorun Chen, Jingyang Zhang, Freddy Lecue, Avni Kothari, Sarah Tan, Wenbo Guo, Bo Li
arXiv:2609.07675v1 Announce Type: cross
Abstract: Transaction-local controls answer whether one financial request may proceed, but market behavior can be distributed across messages, agents, assets,...
By Zelin Li, Yiyun Su, Matt White, Zhipeng Wang, Xiao-Yang Liu, Tianyu Shi
arXiv:2610.15529v2 Announce Type: new
Abstract: Agent-to-agent protocols allow LLM agents to discover peers, exchange results, and coordinate tool use. A locally successful protocol attack, however,...
By Xiuming Liu, Le Gai, Zhiyuan Chang, Peiyang Li, Bin Zhu, Shuo Wang, Chao Feng
arXiv:2605. 05580v2 Announce Type: replace Abstract: Quantitative trading agents have demonstrated substantial promise in automating factor discovery, signal aggregation, and portfolio execution.
By Yishuo Yuan, Jiayi Sheng, Sirui Zeng, Jiaqi Wang, Jiaheng Liu
arXiv:2508. 16481v3 Announce Type: replace Abstract: Ensuring the safe use of agentic systems requires a thorough understanding of the range of malicious behaviors these systems may exhibit.
By Jonathan N\"other, Adish Singla, Goran Radanovic
arXiv:2606. 13994v1 Announce Type: cross Abstract: LLM-based Agents are becoming increasingly capable and widely deployed, creating growing incentives for adversarial misuse in the real-world.
By Vikhyath Kothamasu, Virginia Smith, Chhavi Yadav
arXiv:2606. 07790v1 Announce Type: new Abstract: Multi-agent LLM systems increasingly rely on communication protocols for coordination, yet their robustness under adversarial and structural constraints remains poorly understood.
By Aya El Mir, Martin Tak\'a\v{c}, Salem Lahlou
arXiv:2607. 10286v1 Announce Type: new Abstract: Large language model (LLM) agents are increasingly used in trading systems, where model reasoning, tool use, and continual decisions incur costs that are expected to produce trading value.
By Qiqi Duan, Changlun Li, Chen Wang, Fan Zhang, Mengxiang Wang, Dayi Miao, Peixian Ma, Jiangpeng Yan, Liyuan Chen, Shuoling Liu, Preslav Nakov, Yuyu Luo, Nan Tang
The paper introduces Steward, a multi‑agent LLM system for autonomous investing that uses a type system to limit self‑evolution. It employs nine role‑specialised agents—four analysts, a Portfolio Manager, a Risk Manager, and a shared memory layer—to process news, SEC filings, macro data, and market feeds, while a reflector and deterministic gate enable reversible learning from trade outcomes. In a five‑month live deployment, Steward achieved a 0.3% loss after a 24.6% sector drawdown, and backtests show its invariant core consistently reduces maximum drawdown across random entry policies.
By Yebo Feng, Jingyang Dai, Liangrui Pan, Nelson Lau, Jiahua Xu, Yang Liu