mlsanityData to 14 Oct 2026

FinMem: A Performance-Enhanced LLM Trading Agent with Layered Memory and Character Design

arXiv 2311.13743 ↗First posted 23 Nov 2023q-fin.CP cs.AI cs.CEcited by 164

On the map: LLM agents and tool use → Financial trading and forecasting agents

Abstract (arXiv)

Recent advancements in Large Language Models (LLMs) have exhibited notable efficacy in question-answering (QA) tasks across diverse domains. Their prowess in integrating extensive web knowledge has fueled interest in developing LLM-based autonomous agents. While LLMs are efficient in decoding human instructions and deriving solutions by holistically processing historical inputs, transitioning to purpose-driven agents requires a supplementary rational architecture to process multi-source information, establish reasoning chains, and prioritize critical tasks. Addressing this, we introduce textscFinMem, a novel LLM-based agent framework devised for financial decision-making. It encompasses three core modules: Profiling, to customize the agent's characteristics; Memory, with layered message processing, to aid the agent in assimilating hierarchical financial data; and Decision-making, to convert insights gained from memories into investment decisions. Notably, textscFinMem's memory module aligns closely with the cognitive structure of human traders, offering robust interpretability and real-time tuning. Its adjustable cognitive span allows for the retention of critical information beyond human perceptual limits, thereby enhancing trading outcomes. This framework enables the agent to self-evolve its professional knowledge, react agilely to new investment cues, and continuously refine trading decisions in the volatile financial environment. We first compare textscFinMem with various algorithmic agents on a scalable real-world financial dataset, underscoring its leading trading performance in stocks. We then fine-tuned the agent's perceptual span and character setting to achieve a significantly enhanced trading performance. Collectively, textscFinMem presents a cutting-edge LLM agent framework for automated trading, boosting cumulative investment returns.

Key facts. Cited by 164 papers in the map (data through 14 Oct 2026). Placed in Financial trading and forecasting agents, one of 16 directions in LLM agents and tool use. Builds on 23 of its 56 references that are in the map. First posted on arXiv 23 Nov 2023.

Builds on

23 of 56 references.

References · 23

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11 more
  1. 2022Social Simulacra: Creating Populated Prototypes for Social Computing Systemscited by 301
  2. 2023FinGPT: Open-Source Financial Large Language Modelscited by 253
  3. 2023Building Cooperative Embodied Agents Modularly with Large Language Modelscited by 237
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Cited by year (2026 to 14 Oct)

Citing papers per year: 2024: 26; 2025: 59; 2026: 79.

164 papers.

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  1. 2025Mem0: Building Production-Ready AI Agents with Scalable Long-Term Memorycited by 779
  2. 2024A Survey on the Memory Mechanism of Large Language Model based Agentscited by 634
  3. 2024Agent Security Bench (ASB): Formalizing and Benchmarking Attacks and Defenses in LLM-based Agentscited by 369
  4. 2024TradingAgents: Multi-Agents LLM Financial Trading Frameworkcited by 188
  5. 2024FinBen: A Holistic Financial Benchmark for Large Language Modelscited by 141
  6. 2025Towards a Science of Scaling Agent Systemscited by 138
  7. 2024A Multimodal Foundation Agent for Financial Trading: Tool-Augmented, Diversified, and Generalistcited by 137
  8. 2025Adaptive Attacks Break Defenses Against Indirect Prompt Injection Attacks on LLM Agentscited by 125
  9. 2024GuardAgent: Safeguard LLM Agents by a Guard Agent via Knowledge-Enabled Reasoningcited by 124
  10. 2024FinCon: A Synthesized LLM Multi-Agent System with Conceptual Verbal Reinforcement for Enhanced Financial Decision Makingcited by 113
  11. 2024A Survey of Large Language Models for Financial Applications: Progress, Prospects and Challengescited by 90
  12. 2025Fin-R1: A Large Language Model for Financial Reasoning through Reinforcement Learningcited by 83
38 more
  1. 2024TrustAgent: Towards Safe and Trustworthy LLM-based Agentscited by 64
  2. 2024INVESTORBENCH: A Benchmark for Financial Decision-Making Tasks with LLM-based Agentcited by 64
  3. 2025A Survey of LLM-Driven AI Agent Communication: Protocols, Security Risks, and Defense Countermeasurescited by 57
  4. 2026A Survey of Agentic Reasoning for Large Language Models: Towards Recursively Self-Improving and Collective Agentscited by 50
  5. 2025A Survey on the Optimization of Large Language Model-based Agentscited by 46
  6. 2025Structured Uncertainty guided Clarification for LLM Agentscited by 41
  7. 2024FinRobot: An Open-Source AI Agent Platform for Financial Applications using Large Language Modelscited by 40
  8. 2024Richelieu: Self-Evolving LLM-Based Agents for AI Diplomacycited by 36
  9. 2024Automate Strategy Finding with LLM in Quant Investmentcited by 26
  10. 2024Emotional RAG: Enhancing Role-Playing Agents through Emotional Retrievalcited by 26
  11. 2026Graph-based Agent Memory: Taxonomy, Techniques, and Applicationscited by 25
  12. 2025HedgeAgents: A Balanced-aware Multi-agent Financial Trading Systemcited by 24
  13. 2025FLAG-Trader: Fusion LLM-Agent with Gradient-based Reinforcement Learning for Financial Tradingcited by 23
  14. 2025Time Travel is Cheating: Going Live with DeepFund for Real-Time Fund Investment Benchmarkingcited by 21
  15. 2025A Survey of Reasoning and Agentic Systems in Time Series with Large Language Modelscited by 21
  16. 2025Can LLM-based Financial Investing Strategies Outperform the Market in Long Run?cited by 20
  17. 2026HiMem: Hierarchical Long-Term Memory for LLM Long-Horizon Agentscited by 18
  18. 2025RAS-Eval: A Comprehensive Benchmark for Security Evaluation of LLM Agents in Real-World Environmentscited by 17
  19. 2024Multi-Agents are Social Groups: Investigating Social Influence of Multiple Agents in Human-Agent Interactionscited by 16
  20. 2025Navigating the Alpha Jungle: An LLM-Powered MCTS Framework for Formulaic Factor Miningcited by 16
  21. 2025When Agents Trade: Live Multi-Market Trading Benchmark for LLM Agentscited by 16
  22. 2026BackdoorAgent: A Unified Framework for Backdoor Attacks on LLM-based Agentscited by 16
  23. 2026QuantaAlpha: An Evolutionary Framework for LLM-Driven Alpha Miningcited by 16
  24. 2025Trading-R1: Financial Trading with LLM Reasoning via Reinforcement Learningcited by 15
  25. 2024Enhancing Investment Analysis: Optimizing AI-Agent Collaboration in Financial Researchcited by 14
  26. 2025Think Twice Before You Act: Enhancing Agent Behavioral Safety with Thought Correctioncited by 14
  27. 2025Profit Mirage: Revisiting Information Leakage in LLM-based Financial Agentscited by 14
  28. 2025LiveTradeBench: Seeking Real-World Alpha with Large Language Modelscited by 13
  29. 2026Look-Ahead-Bench: a Standardized Benchmark of Look-ahead Bias in Point-in-Time LLMs for Financecited by 13
  30. 2025Agentic AI Systems Applied to tasks in Financial Services: Modeling and model risk management crewscited by 12
  31. 2025PSG-Agent: Personality-Aware Safety Guardrail for LLM-based Agentscited by 12
  32. 2025A Framework for Studying AI Agent Behavior: Evidence from Consumer Choice Experimentscited by 12
  33. 2026From Knowing to Doing: A Memory-Controlled Benchmark for LLM Trading Agents on Stock Marketscited by 11
  34. 2024AI in Investment Analysis: LLMs for Equity Stock Ratingscited by 10
  35. 2024FinRobot: AI Agent for Equity Research and Valuation with Large Language Modelscited by 10
  36. 2025A Survey of Scaling in Large Language Model Reasoningcited by 10
  37. 2025Agent Guide: A Simple Agent Behavioral Watermarking Frameworkcited by 10
  38. 2024ECC Analyzer: Extract Trading Signal from Earnings Conference Calls using Large Language Model for Stock Performance Predictioncited by 9

50 most cited of 164 All 164 (JSON)

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  1. 2026FinPerMA: A Theory-Informed, Event-Grounded Personalized-Memory Benchmark for LLM Agents
  2. 2024Large Language Model Agent in Financial Trading: A Survey
  3. 2026Learning to Trade Like an Expert: Cognitive Fine-Tuning for Stable Financial Reasoning in Language Models
  4. 2024An Agent Framework for Real-Time Financial Information Searching with Large Language Models
  5. 2025Agent Trading Arena: A Study on Numerical Understanding in LLM-Based Agents
  6. 2024TraderTalk: An LLM Behavioural ABM applied to Simulating Human Bilateral Trading Interactions
  7. 2024Enhancing Financial Question Answering with a Multi-Agent Reflection Framework
  8. 2026Evaluating Investment Logic in Large Language Models: A Real-World Benchmark Towards Personalzied Financial Agents