Overview

• SEBI’s 105-page interim order bars US-based Jane Street and four affiliates from Indian markets and impounds ₹4,843 crore under PFUTP rules.
• The regulator found that the firm exploited high-frequency expiry-day trades in the Nifty and Bank Nifty to engineer price moves and profit from bearish options.
• Tuhin Kanta Pandey, SEBI chairman, said surveillance at both exchange and regulator levels will be enhanced to detect complex algorithmic manipulation.
• Jane Street has formally disputed SEBI’s findings and is expected to challenge the interim order before the Securities Appellate Tribunal.
• Jefferies and Goldman Sachs forecast limited impact on BSE trading volumes, and opposition leaders warn the episode could undermine retail investor confidence.