Hudson River Trading is building foundation-style models trained on decades of global market data, applying techniques similar to those used in frontier language models for automated trading.

The firm is training these models on more than two decades of data spanning equities, futures, and cryptocurrencies, totaling over 100 terabytes. That translates into “something like trillions of tokens, in the same realm as what you train frontier language models on,” said Marc Khoury, a researcher on HRT’s AI team, speaking at an academic conference.