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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.
Economic Times
14-05-2025
- Business
- Economic Times
Jane Street trading investigation closed by NSE
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. ADVERTISEMENT 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 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. ADVERTISEMENT 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 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. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Bloomberg
14-05-2025
- Business
- Bloomberg
Jane Street Trading Investigation Closed by India's NSE
Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here. 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.
Bloomberg
26-03-2025
- Business
- Bloomberg
HSBC Outsourcing Trading Is a Risky Business
Electronic market makers like Citadel Securities LLC and Jane Street Group have been gobbling up market share from investment bank rivals, but to really get ahead they'll need a helping hand. They might be about to get it from a surprising source: Some of those same banks. HSBC Holdings Plc has had talks about outsourcing some of its bond trading operations to a non-bank market maker, Bloomberg News reported Monday. The bank wouldn't confirm the talks or which areas might be affected. Such a deal would be a huge coup not only for the firm that won the contract, but also for the idea of outsourcing that's catching the imagination of European bank bosses. However, there's a long way to go to show it can work and a fair chance that the potential rewards won't exceed the risks.
