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2mo ago

SEBI Bans Jane Street Over Index Manipulation, Freezes ₹4,843 Crore

Accusing the firm of expiry-day manipulation in Nifty 50 and Bank Nifty options, the interim order grants Jane Street 21 days to respond.

The logo of Securities and Exchange Board of India (SEBI) is seen on its headquarters in Mumbai, India, March 24, 2025. REUTERS/Hemanshi Kamani//File Photo
The US-based company, Jane Street, has been banned from the Indian securities market by SEBI.
SEBI | Image: SEBI/AI Generated
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Overview

  • SEBI’s interim directive bars four Jane Street entities—JSI Investments, JSI2 Investments, Jane Street Singapore Pte Ltd and Jane Street Asia Trading—from dealing in Indian securities.
  • The regulator has ordered ₹4,843.57 crore in alleged unlawful gains to be frozen in an escrow account pending further inquiry.
  • The 105-page order alleges Jane Street deployed intraday index manipulation and marking-the-close tactics to influence option settlement prices.
  • Investigators found the firm earned over ₹36,500 crore from expiry-day index-derivatives strategies between January 2023 and March 2025.
  • Jane Street has formally disputed SEBI’s findings and may seek a hearing or file objections within the prescribed response period.