Realistic market making backtester with tick-by-tick L2 replay, FIFO queue simulation (iceberg detection + cancel inference), latency modeling, and detailed adverse selection metrics. Built for production-grade strategy research, focusing on real queue dynamics and fill quality rather than simplified assumptions.

LLM agents learn to lie in a dating marketplace and honest agents quit. A multi-agent simulation proving AI can exploit information asymmetry.

Replication of Avellaneda & Stoikov's market-making model with closed-form quote formulas, inventory vs symmetric strategy comparison, and an adverse-selection extension.

Picked Off — a market-making game. Quote against hidden fair value, survive informed flow. Glosten-Milgrom under the hood.

Limit Order Book Matching Engine