Tower Research Capital, a New York-based high-frequency trading (HFT) firm, is under fire by Chinese authorities for allegedly smuggling high-tech hardware into the country for the purpose of using it in the Shanghai Futures Exchange (SHFE). The report comes by way of data-analytics-id=”inline-link” href=”https://www.ft.com/content/0f9f562d-05b4-4295-8fa6-7f8be10b25a0?accessToken=zwAAAZma3e0ukc8Pn1YtBbRCldOPpn-L4QsloA.MEQCIHleY2fXX2l60QogC42mkdYGPuJYwIb3n3V6uf0Q8v7CAiBtZhKgBm0CBsPQ629FS7k-UbV1x-CYaz8I9AiluY1j_A&segmentId=e95a9ae7-622c-6235-5f87-51e412b47e97&shareType=enterprise&shareId=d3ea748f-f8ad-4f99-bfeb-ecc6d8d61201″ target=”_blank” data-url=”https://www.ft.com/content/0f9f562d-05b4-4295-8fa6-7f8be10b25a0?accessToken=zwAAAZma3e0ukc8Pn1YtBbRCldOPpn-L4QsloA.MEQCIHleY2fXX2l60QogC42mkdYGPuJYwIb3n3V6uf0Q8v7CAiBtZhKgBm0CBsPQ629FS7k-UbV1x-CYaz8I9AiluY1j_A&segmentId=e95a9ae7-622c-6235-5f87-51e412b47e97&shareType=enterprise&shareId=d3ea748f-f8ad-4f99-bfeb-ecc6d8d61201″ referrerpolicy=”no-referrer-when-downgrade” data-hl-processed=”none”>Financial Times, which notes the Chinese customs authorities are determining whether Tower installed illicit “customized processors and networking hardware” that didn’t match its customs declaration.
Tower allegedly brought in $17 million…
