mlsanityData to 13 Oct 2026

Trade the Event: Corporate Events Detection for News-Based Event-Driven Trading

arXiv 2105.12825 ↗First posted 26 May 2021cs.CL q-fin.CP q-fin.TRcited by 39

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Abstract (arXiv)

In this paper, we introduce an event-driven trading strategy that predicts stock movements by detecting corporate events from news articles. Unlike existing models that utilize textual features (e.g., bag-of-words) and sentiments to directly make stock predictions, we consider corporate events as the driving force behind stock movements and aim to profit from the temporary stock mispricing that may occur when corporate events take place. The core of the proposed strategy is a bi-level event detection model. The low-level event detector identifies events' existences from each token, while the high-level event detector incorporates the entire article's representation and the low-level detected results to discover events at the article-level. We also develop an elaborately-annotated dataset EDT for corporate event detection and news-based stock prediction benchmark. EDT includes 9721 news articles with token-level event labels as well as 303893 news articles with minute-level timestamps and comprehensive stock price labels. Experiments on EDT indicate that the proposed strategy outperforms all the baselines in winning rate, excess returns over the market, and the average return on each transaction.

Key facts. Cited by 39 papers in the map (data through 13 Oct 2026). Builds on 6 of its 24 references that are in the map. First posted on arXiv 26 May 2021.

Builds on

6 of 24 references.

References · 6

  1. 2018BERT: Pre-training of Deep Bidirectional Transformers for Language Understandingcited by 40,304
  2. 2019Financial Event Extraction Using Wikipedia-Based Weak Supervisioncited by 11
  3. 2018Predicting the Effects of News Sentiments on the Stock Marketcited by 10
  4. 2016Stock trend prediction using news sentiment analysiscited by 9
  5. 2018Leveraging Financial News for Stock Trend Prediction with Attention-Based Recurrent Neural Networkcited by 6
  6. 2019Stock Market Forecasting Based on Text Mining Technology: A Support Vector Machine Methodcited by 1

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Cited by year (2026 to 13 Oct)

Citing papers per year: 2021: 1; 2022: 3; 2023: 5; 2024: 16; 2025: 10; 2026: 4.

39 papers.

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  1. 2023PIXIU: A Large Language Model, Instruction Data and Evaluation Benchmark for Financecited by 219
  2. 2024FinBen: A Holistic Financial Benchmark for Large Language Modelscited by 141
  3. 2023Large Models for Time Series and Spatio-Temporal Data: A Survey and Outlookcited by 109
  4. 2024A Survey of Large Language Models in Finance (FinLLMs)cited by 79
  5. 2023FinGPT: Democratizing Internet-scale Data for Financial Large Language Modelscited by 66
  6. 2024INVESTORBENCH: A Benchmark for Financial Decision-Making Tasks with LLM-based Agentcited by 63
  7. 2024Open-FinLLMs: Open Multimodal Large Language Models for Financial Applicationscited by 36
  8. 2024FinTral: A Family of GPT-4 Level Multimodal Financial Large Language Modelscited by 32
  9. 2025Demystifying Domain-adaptive Post-training for Financial LLMscited by 24
  10. 2024FinDVer: Explainable Claim Verification over Long and Hybrid-Content Financial Documentscited by 19
  11. 2025FinMTEB: Finance Massive Text Embedding Benchmarkcited by 18
  12. 2022Astock: A New Dataset and Automated Stock Trading based on Stock-specific News Analyzing Modelcited by 12
27 more
  1. 2024Do We Need Domain-Specific Embedding Models? An Empirical Investigationcited by 12
  2. 2021Challenges and Applications of Automated Extraction of Socio-political Events from Text (CASE 2021): Workshop and Shared Task Reportcited by 9
  3. 2024Text2TimeSeries: Enhancing Financial Forecasting through Time Series Prediction Updates with Event-Driven Insights from Large Language Modelscited by 9
  4. 2023Feature Programming for Multivariate Time Series Predictioncited by 7
  5. 2024No Language is an Island: Unifying Chinese and English in Financial Large Language Models, Instruction Data, and Benchmarkscited by 7
  6. 2024SusGen-GPT: A Data-Centric LLM for Financial NLP and Sustainability Report Generationcited by 7
  7. 2025STEER-ME: Assessing the Microeconomic Reasoning of Large Language Modelscited by 7
  8. 2023Self-Specialization: Uncovering Latent Expertise within Large Language Modelscited by 5
  9. 2024D'olares or Dollars? Unraveling the Bilingual Prowess of Financial LLMs Between Spanish and Englishcited by 5
  10. 2025CAMEF: Causal-Augmented Multi-Modality Event-Driven Financial Forecasting by Integrating Time Series Patterns and Salient Macroeconomic Announcementscited by 5
  11. 2024L3iTC at the FinLLM Challenge Task: Quantization for Financial Text Classification & Summarizationcited by 4
  12. 2024Golden Touchstone: A Comprehensive Bilingual Benchmark for Evaluating Financial Large Language Modelscited by 4
  13. 2024FANAL -- Financial Activity News Alerting Language Modeling Frameworkcited by 4
  14. 2025Bridging Language Models and Financial Analysiscited by 4
  15. 2025Finance Language Model Evaluation (FLaME)cited by 4
  16. 20221Cademy @ Causal News Corpus 2022: Enhance Causal Span Detection via Beam-Search-based Position Selectorcited by 3
  17. 2025Extract, Match, and Score: An Evaluation Paradigm for Long Question-context-answer Triplets in Financial Analysiscited by 3
  18. 2025Generative AI Enhanced Financial Risk Management Information Retrievalcited by 3
  19. 2024Analysis of Multidomain Abstractive Summarization Using Salience Allocationcited by 2
  20. 2024CatMemo at the FinLLM Challenge Task: Fine-Tuning Large Language Models using Data Fusion in Financial Applicationscited by 2
  21. 2025M3FinMeeting: A Multilingual, Multi-Sector, and Multi-Task Financial Meeting Understanding Evaluation Datasetcited by 2
  22. 2022Fast and Accurate FSA System Using ELBERT: An Efficient and Lightweight BERTcited by 1
  23. 2025A symbolic Perl algorithm for the unification of Nahuatl word spellingscited by 0
  24. 2026GS-FUSE: Granger-Supervised Gated Fusion and Multi-Granularity Alignment for Event-Driven Financial Forecastingcited by 0
  25. 2026Grounded Event Extraction from SEC 8-K Filings with a Fine-Grained Taxonomycited by 0
  26. 2026Frontier Financial Judgement: Can agents tell what might move a stock?cited by 0
  27. 2026ReLiveGym: Evaluating Long-Lived Agents over Weeks of Replayed Realitycited by 0