SEBI Allows Jane Street's Return To Indian Markets With Conditions

News18

3 days ago

But the respite that comes for Jane Street comes with some conditions and terms. SEBI has told the exchanges, BSE and NSE, to keep a strict surveillance on Jane Street Group's future dealings and positions to ensure that they won't indulge in any kind of manipulative activity till the completion of its investigation.
'Exchanges have confirmed that they will comply with this," Sebi said in a statement on Monday.
SEBI also directed Jane Street group to not make any debits in respect of assets without the prior approval of SEBI. Moreover, the market regulator directed the banks where Jane Street affiliates are holding bank accounts to ensure no debits were made without permission of SEBI, according to ET report.
Jane Street, as per Et report, said in the undertaking that it will not enter into options trading. Moreover, the group won't trade in the cash segment until it has explained its trading strategies to SEBI.
Earlier this month, the markets regulator in an interim order had barred the Jane Street Group from participating in Indian securities markets. Sebi had banned the Jane Street entities from trading or accessing Indian markets, frozen an amount of Rs 4,843 crore, and given the group 21 days to respond or request a hearing.
Founded in 2000, Jane Street is a US-based leading global trading firm that operates as a proprietary trading company. Unlike hedge funds, Jane Street trades using its own capital. It has operations across the US, Europe, and Asia, specialising in high-frequency trading and algorithmic strategies. The firm has over 2,600 employees and is known for its sophisticated quantitative models and automated market-making systems.
In India, it operated through four firms — JSI Investments Pvt Ltd, JSI2 Investments Pvt Ltd, Jane Street Singapore Pte Ltd, and Jane Street Asia Trading Ltd.