Latest news with #AntoAntony
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Business Standard
23-05-2025
- Business
- Business Standard
Jane Street nets $2.3 bn from booming India equity options trading
By Chiranjivi Chakraborty and Anto Antony Jane Street Group LLC generated more than $2.3 billion in net revenue from equity derivatives last year in India, where its lucrative trading strategies have sparked a probe by regulators. The trading haul was a sharp surge from 2023, underscoring the country's growing importance to the firm's global expansion, according to people familiar with the matter. India accounted for more than a 10th of the New York-based giant's record $20.5 billion in net trading revenue last year, the people said, asking not to be identified as the information is private. The Securities and Exchange Board of India is investigating the company's derivatives trades after some market participants alleged manipulation by the firm, Bloomberg reported last week. A separate probe by the National Stock Exchange was closed last month after a reply from the company's India trading partner. Jane Street declined to comment on its performance and revenue generated from India. The firm also declined to comment on the Sebi probe. The world's largest derivatives market by contracts traded has seen global high-frequency trading and market-making firms from Ken Griffin's Citadel Securities LLC to Optiver expand in recent years. A retail investor-led boom has seen options premiums surge 11-fold in the five years to March 2025. The options frenzy has helped foreign funds and local proprietary firms that use algorithms, as they pocketed $7 billion in gross profits in the 12 months ended in March 2024, according to a Securities and Exchange Board of India study. Jane Street's lawyers inadvertently revealed in a court battle with Millennium Management last year that it earned $1 billion in 2023 from trading options in India with the help of a 'secret' strategy. Jane Street's algorithmic and technology-driven approach — combined with its ability to deploy its own capital independently of banking regulations — likely gave it a competitive edge in India, where it mostly makes directional trades, the people said. India is one of the 18 countries in which Jane Street holds more than a 2% market share in derivatives volume, they said. Equity options trading in India has cooled this year after exponential growth since the pandemic. Fees from options traded on the NSE grew just 2% this year through April, sharply lower than the 92% growth in the same period last year, according to exchange data. The slowdown was triggered by Sebi, which imposed several restrictions on trading options including higher minimum investment limits and an increase in lot sizes since November to protect retail traders — 90% of whom lost money trading options. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
New Indian Express
18-05-2025
- Politics
- New Indian Express
‘Tharoor may have his own opinion, but it should be in line with party'
As the new UDF convener, what are your priorities ahead of two decisive elections? The primary responsibility is to strengthen UDF by working closely with various social groups. In the 2025 local body elections as well as the 2026 assembly polls, I have to bring UDF into power. Priority is to resolve existing issues and move ahead. We will break the media propaganda of a third Pinarayi Vijayan government. Prospects of a third LDF government gather momentum due to UDF's internal weakness... The KPCC reorganisation was carried out to strengthen the Congress. When we complete our task, you will find out that there is no truth in such propaganda. As an immediate plan, I'll try to bring everyone together. It's said Anto Antony's affinity with the Pentecostal Church cost him the KPCC president post. Is it so? I don't know. What was the compulsion for the Congress to appoint a Christian as KPCC president? The decision was not mine (smiles). We are asking your opinion as a Congress leader… The Congress party has a larger perspective on how to move forward. On the basis of that perspective, people are chosen to lead the party. It isn't mandatory that a leader from the Christian community must be the KPCC president. Until now, KPCC presidents were from the Ezhava community. Was the leadership change a necessity in KPCC? AICC found out that organisational work wasn't going too well in the state. Based on AICC's report, a proposal was made that some changes be brought in the state party organisation. We weren't the ones who demanded a change. While leader of opposition (V D Satheesan) hasn't been changed, the KPCC president ( K Sudhakaran) who led the Congress to victory in bypolls was shown the door. Is it fair? I'm not the person to answer that. All of us accept decisions taken by the AICC. I wasn't aware of the decision earlier. Sudhakaran had said that certain crooked leaders are behind the change. Hope you are not among them… (Smiles) He won't say that about me. I don't have any guesses on who they are. You were among the probables for the KPCC president post. But a former president is said to have written to the high command that you are a bar owner, which scuttled your chances… You should ask the leader who you believe has written the letter. If some leader said that, it was immature. I started party work in 1970 as a KSU worker and came up through different positions. I wasn't an armchair politician but a partyman who worked hard. Has the fact that you are a bar owner ever posed a hurdle in your political career? My family had the bar even before I joined the KSU. But I have never slept on the street drunk. There are many people who have such a history. I don't wish to go into the details. There's a general perception that running a bar isn't a respectable profession… I have a question for them... a lot of bar licences have been given over the past few years. Those who argued vociferously and led strikes are now silent. Why is that?
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Business Standard
14-05-2025
- Business
- Business Standard
NSE closes probe into Jane Street trades flagged for unusual activity
By Chiranjivi Chakraborty, Anto Antony and Alex Gabriel Simon India's largest stock exchange has closed an investigation into irregular trades by Jane Street Group, one of the most active foreign players in the country's derivatives markets, according to people familiar with the matter. The National Stock Exchange of India Ltd., which operates the world's biggest equity derivatives bourse, in January flagged certain trades by high-frequency trading firms including Jane Street, people with direct knowledge of the matter said. Moneycontrol had reported of the proceedings earlier. The transactions in question involved rapid reversals of trades, sometimes at prices far above or below prevailing market rates, the people said, asking not to be named as the information is private. The trades raised concerns of market manipulation at a time when the nation's securities regulator is scrambling to stay ahead of the rapid boom in India's derivative market, where Jane Street is said to conduct majority of its trades. The US-based market maker's operations in India came under a global spotlight last year after a court battle with Millennium Management revealed it earned $1 billion trading in Indian equity derivatives. The NSE told Jane Street's local trading partner Nuvama Wealth Management Ltd. in a letter dated April 30 that the investigation has been closed following a response to an initial notice sent early this year, a copy of the letter reviewed by Bloomberg showed. Jane Street declined to comment on the flagged trades and the content of the letter. Spokespeople for both the NSE and Nuvama didn't respond to requests for comment. The NSE as a first-line stock regulator in India undertakes real-time position monitoring and risk management for the futures and options market through its clearing house NSE Clearing Ltd., according to its website.
New Indian Express
06-05-2025
- Politics
- New Indian Express
Kerala Congress state president Sudhakaran intensifies efforts to retain post, meets A K Antony
THIRUVANANTHAPURAM: Amid speculation over change in leadership, Congress state president K Sudhakaran intensified efforts to retain the post even as top contenders Anto Antony and Sunny Joseph continued with their bid to stay in the contest. Sudhakaran, who chose not to speak to the media, met senior party leader A K Antony at his residence on Monday. Meanwhile, there is growing displeasure among Congress leaders over giving a communal angle to the process of selecting the next party chief. 'Reports that Anto and Sunny are being considered in line with the interest of the Catholic Church will backfire,' a Congress political affairs committee member told TNIE. He said the party state head was never selected on the basis of community before. 'This shows a rift between sections of the Christian and Muslim communities over the Munambam issue. The selection of KPCC president on communal grounds will alienate Muslims,' he said. There is also anger among senior leaders over the alleged silence of the Leader of Opposition V D Satheeshan, on the issue. 'When the KPCC president becomes a party of a contention, it is the duty of the parliamentary party leader to sort out the issue,' a KPCC leader said.
Bloomberg
24-02-2025
- Business
- Bloomberg
RedBird Mulls Selling Stake in IPL Cricket Team Rajasthan Royals
Markets By , Anto Antony, and Giles Turner Save RedBird Capital Partners is looking to sell its minority stake in Indian Premier League team Rajasthan Royals, as the private equity firm seeks to cash in on the growing popularity of cricket's most lucrative competition, people familiar said. RedBird, founded by former Goldman Sachs executive Gerry Cardinale, reportedly paid $37.5 million for 15% of Rajasthan Royals four years ago, valuing the franchise at $250 million.
