Overview

• SEBI’s July 3 interim order bars Jane Street and related entities from Indian securities markets and freezes ₹4,843 crore in alleged unlawful gains under PFUTP rules.
• The regulator contends data from mid-2023 onward shows expiry-day trades inflating Bank Nifty constituent prices to profit from short positions in index options.
• Jane Street has branded the charges “extremely inflammatory” in leaked staff memos and says its outreach to SEBI since February was consistently rebuffed.
• Chairman Tuhin Kanta Pandey announced plans to strengthen surveillance at exchanges and within SEBI as probes extend to other benchmarks and trading platforms.
• Opposition figures have criticised the four-year delay in action, highlighting retail traders’ heavy losses as India’s equity derivatives market tops global volume charts.