Overview

• Jane Street formally requested additional time beyond the expired 21-day window to respond to the interim order accusing it of expiry-day index manipulation
• SEBI lifted the firm’s trading ban on July 21 after it deposited the seized funds into an escrow account under lien
• Ananth Narayan is considering a roughly four-week extension while exchanges maintain aggressive surveillance of Jane Street’s resumed futures and options trades
• The interim order alleged that Jane Street artificially supported the Bank Nifty index in cash and futures markets before profiting from bearish options positions
• SEBI’s broader investigation will continue once the firm submits its formal defence