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 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…
