Jane Street challenges Sebi's misunderstanding of hedging
India's market regulator SEBI has banned global trading firm Jane Street, accusing it of manipulating index prices on expiry days with aggressive algorithms.
The July 3 order involves nearly ₹4,840 crore—SEBI's biggest ever—and aims to crack down on unfair trading.
Firm calls SEBI's accusations 'inflammatory'
Jane Street says it did nothing wrong and calls SEBI's accusations "inflammatory."
The firm insists its trades were standard practice worldwide and points out it cooperated with regulators and tweaked its trading after warnings.
Jane Street now plans to challenge the ban in court.
Ban boosts trust among everyday investors
This ban follows scrutiny over Jane Street's options strategy in India.
SEBI hopes the move will boost trust among everyday investors and is ramping up surveillance to spot any future manipulation in derivatives trading.