Jane Street challenges SEBI's market manipulation accusations
Jane Street, a major US trading firm, is fighting back after India's market regulator SEBI accused it of manipulating Bank Nifty stocks to make over ₹4,800 crore (about $550 million) in illegal profits.
SEBI claims the firm used tactics like buying up stocks early to push prices higher while betting against them elsewhere.
Jane Street says these were just standard trading moves and calls the accusations "extremely inflammatory."
Jane Street's battle with SEBI
This clash is a big deal for India's financial markets, which are among the world's busiest for equity derivatives.
SEBI's crackdown signals tougher action against market manipulation and could shape how foreign firms operate in India going forward.
The outcome might set new rules for what's fair—and what isn't—when global players trade in Indian markets.