Tower Research is quietly recruiting top quants using hedge-fund style deals

Source: Business Insider

Prop-trading firms like Tower Research reaped a windfall from pandemic-era volatility and have been in expansion mode since. ANGELA WEISS / AFPTower Research has been using a twist on the hedge-fund SMA to recruit top quants. The firm first started signing external traders to "Software Vendor Agreements," or SVAs, in 2017.