Jane Street Banned in India LIVE updates: SEBI, in its order on July 3, announced banning Jane Street, a US-based trading firm, from accessing the Indian stock market for allegedly manipulating the stock market through positions in India’s booming derivatives trade.
As per a PTI report, this could be the highest disgorgement amount ever directed by the Securities and Exchange Board of India (SEBI).
What is Jane Street?
Jane Street Group was established in 2000 as a global proprietary trading firm in the financial services industry. According to the company’s website, it has more than 3000 employees across five global offices. We trade a broad range of asset classes on more than 200 venues in 45 countries.
What did SEBI order say?
In its interim order, the regulator has debarred JSI Investments, JSI2 Investments Pvt Ltd, Jane Street Singapore Pte Ltd, and Jane Street Asia Trading, entities collectively referred to as the Jane Street Group, from trading until further notice, while continuing its investigation.
The Jane Street Group has come under Sebi’s scrutiny for allegedly manipulating index levels in the stock market to earn illegal profits, primarily through the highly liquid Bank Nifty and Nifty index options segments.