US Edition
Jane Street to Contest Indian Regulator’s Manipulation Charges
INDIA, JUL 7 – SEBI barred Jane Street for manipulating Indian derivatives markets, seizing Rs 4,843 crore in alleged illegal profits from aggressive trading strategies exploiting regulatory loopholes.
- India's market regulator SEBI barred US-based proprietary trading firm Jane Street last week and impounded $567 million for alleged manipulative trading.
- The ban followed investigations revealing Jane Street's use of aggressive 'marking the close' strategies to artificially influence closing prices, especially on derivatives expiry days.
- SEBI found Jane Street’s entities made unlawful profits of about Rs 4,843 crore by buying banking stocks and futures to temporarily boost indices while holding short derivatives positions.
- Jane Street rejected the findings, emphasizing that arbitrage trading is a fundamental and widely accepted aspect of financial markets, and announced its intention to formally challenge the imposed ban.
- SEBI continues scrutiny of derivatives manipulation and will monitor Jane Street’s trading positions, signaling tighter oversight of high-frequency proprietary trading in India.
Insights by Ground AI
Does this summary seem wrong?
28 Articles
28 Articles
Jane Street to contest Sebi ban, calls accusations ‘extremely inflammatory’: Here's what the US trading firm said
Jane Street plans to challenge the Sebi ban, which accused the firm of market manipulation. The trading giant denied the allegations, calling its practice basic index arbitrage trading.
·New Delhi, India
Read Full Article
Coverage Details
Total News Sources28
Leaning Left3Leaning Right5Center4Last UpdatedBias Distribution42% Right
Bias Distribution
- 42% of the sources lean Right
42% Right
L 25%
C 33%
R 42%
Factuality
To view factuality data please Upgrade to Premium
