India's Securities and Exchange Board has temporarily barred Jane Street Group LLC from the local securities market due to alleged index manipulation. The regulator plans to seize 48.4 billion rupees ($570 million) claimed as unlawful gains. Jane Street has seen significant profitability in India, making $4.3 billion over two years. The order signifies a rare action against a foreign firm. Equity trading in India has become prominent, and this move sends a message to high-frequency trading institutions about regulatory oversight.
The Securities and Exchange Board of India said it would seize 48.4 billion rupees ($570 million) from Jane Street, which it claimed is the total amount of "unlawful gains" made by the firm.
Jane Street made about 365 billion rupees ($4.3 billion) in overall gain from trading in Indian derivatives and cash market during the period between January 2023 and March 2025.
SEBI's order marks a rare instance of such an action against a foreign entity, signaling accountability for high-frequency trading practices.
"SEBI is sending a message to global HFT giants that you are welcome to trade here but if you undertake unfair practices then we also hold a stick," said Tejas Shah.
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