Back to Research
Quantitative Finance
LLMs for Quantitative Investment Research: A Practitioner's Guide
A.-H. Mihov, N. Firoozye, P. Treleaven · 2025
What this means for traders
Industry consensus after three years of deployment: LLMs add real value as signal extractors and interpreters inside governed, deterministic pipelines, not as standalone forecasting engines.
Abstract
A practitioner-oriented review (UCL / DWS) of how LLMs are reshaping quantitative investment research across three fronts: research assistance, text-based signal extraction, and systemising expert judgment. Documents the field's hard empirical limits (temporal leakage, memorisation, behavioural biases, reproducibility) and provides governance guidelines plus an evaluation checklist for deploying LLMs in production research pipelines.
LLMsQuantitative ResearchGovernanceRAGBest Practices
Read the full paper