Overview

• SEBI’s interim order on July 3 froze ₹48.43 billion in alleged gains and barred four Jane Street entities from NSE trading for expiry-day index derivatives manipulation.
• On July 17, NSE index options premium turnover plunged 35% to ₹39,625.77 crore compared to the June expiry average, reflecting a sudden market liquidity squeeze.
• Jane Street has deposited ₹4,843.58 crore into escrow and formally requested partial relief from the interim order, a request SEBI is now evaluating.
• Regulators are considering broadening the investigation to include tax evasion allegations and probing other benchmarks such as Sensex options.
• SEBI and market participants are debating enhanced surveillance measures and investor protection reforms in India’s rapidly growing derivatives market.