Tower Research Capital has strengthened its exchange-traded funds (ETF) capabilities with the appointment of former Citadel Securities executive Yacin Dolivet as a quantitative researcher.

Dolivet joins the high-frequency trading firm after more than eight years at Citadel Securities, where he most recently led ETF quantitative research before focusing on index arbitrage strategies that exploit pricing discrepancies between ETFs and their underlying securities.

The hire reflects Tower's continued expansion beyond its established equities business into fixed income and ETF trading, areas that have attracted increasing investment from quantitative trading firms.

Before Citadel Securities, Dolivet held senior quantitative roles at KCG Holdings, leading options market-making research, and spent more than six years at Barclays developing equity derivatives and Asian index options trading strategies.