Janus-Q: End-to-End Event-Driven Trading via Hierarchical-Gated Reward Modeling
AI 摘要
Janus-Q是一个端到端事件驱动的交易框架,通过分层门控奖励建模优化交易策略。
主要贡献
- 提出了Janus-Q交易框架,将新闻事件作为主要决策单元
- 构建了大规模金融新闻事件数据集,包含多种事件类型和CAR
- 提出了分层门控奖励模型(HGRM)来平衡多个交易目标
方法论
构建事件中心数据集,结合监督学习和强化学习,使用HGRM进行决策优化,实现端到端交易。
原文摘要
Financial market movements are often driven by discrete financial events conveyed through news, whose impacts are heterogeneous, abrupt, and difficult to capture under purely numerical prediction objectives. These limitations have motivated growing interest in using textual information as the primary source of trading signals in learning-based systems. Two key challenges hinder existing approaches: (1) the absence of large-scale, event-centric datasets that jointly model news semantics and statistically grounded market reactions, and (2) the misalignment between language model reasoning and financially valid trading behavior under dynamic market conditions. To address these challenges, we propose Janus-Q, an end-to-end event-driven trading framework that elevates financial news events from auxiliary signals to primary decision units. Janus-Q unifies event-centric data construction and model optimization under a two-stage paradigm. Stage I focuses on event-centric data construction, building a large-scale financial news event dataset comprising 62,400 articles annotated with 10 fine-grained event types, associated stocks, sentiment labels, and event-driven cumulative abnormal return (CAR). Stage II performs decision-oriented fine-tuning, combining supervised learning with reinforcement learning guided by a Hierarchical Gated Reward Model (HGRM), which explicitly captures trade-offs among multiple trading objectives. Extensive experiments demonstrate that Janus-Q achieves more consistent, interpretable, and profitable trading decisions than market indices and LLM baselines, improving the Sharpe Ratio by up to 102.0% while increasing direction accuracy by over 17.5% compared to the strongest competing strategies.