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Xiyan Chen

Publications and source records attributed to Xiyan Chen.

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Bridging the Editing Gap in LLMs: FineEdit for Precise and Targeted Text Modifications

Large Language Models (LLMs) have significantly advanced natural language processing, demonstrating strong capabilities in tasks such as text generation, summarization, and reasoning. Recently, their potential for automating precise text editing tasks across specialized domains, such as programming code, LaTeX, and structured database languages, has gained attention. However, current state-of-the-art LLMs still struggle with executing precise, instruction-driven edits, particularly when structural accuracy and strict adherence to domain conventions are required. To address these challenges, we introduce InstrEditBench, an automated benchmark dataset comprising over 30,000 structured editing tasks spanning diverse domains, including Wikipedia articles, LaTeX documents, source code, and database languages. Using this benchmark, we develop FineEdit, a specialized editing model explicitly trained for accurate, context-aware text modifications. Experimental evaluations demonstrate that FineEdit outperforms state-of-the-art models, achieving improvements of approximately 10\% over Gemini models on single-turn edits, up to 30\% over Llama-3.2-3B, and exceeding Mistral-7B-OpenOrca performance by over 40\% on direct editing tasks. FineEdit also effectively generalizes to realistic multi-turn editing scenarios, highlighting its practical applicability. To facilitate further research and reproducibility, we release FineEdit at https://github.com/StuRinDQB/FineEdit} and https://huggingface.co/datasets/YimingZeng/FineEdit_bench.

cs.CL

High-frequency lead-lag relationships in the Chinese stock index futures market: tick-by-tick dynamics of calendar spreads

Lead-lag relationships, integral to market dynamics, offer valuable insights into the trading behavior of high-frequency traders (HFTs) and the flow of information at a granular level. This paper investigates the lead-lag relationships between stock index futures contracts of different maturities in the Chinese financial futures market (CFFEX). Using high-frequency (tick-by-tick) data, we analyze how price movements in near-month futures contracts influence those in longer-dated contracts, such as next-month, quarterly, and semi-annual contracts. Our findings reveal a consistent pattern of price discovery, with the near-month contract leading the others by one tick, driven primarily by liquidity. Additionally, we identify a negative feedback effect of the "lead-lag spread" on the leading asset, which can predict returns of leading asset. Backtesting results demonstrate the profitability of trading based on the lead-lag spread signal, even after accounting for transaction costs. Altogether, our analysis offers valuable insights to understand and capitalize on the evolving dynamics of futures markets.

q-fin.CP