Latest news with #USfirm
Asharq Al-Awsat
2 days ago
- Business
- Asharq Al-Awsat
Lebanon Central Bank Signs Deal with US Risk Management Advisory Firm to Combat Illegal Activity
Lebanon's central bank signed an agreement on Monday with US risk management advisory firm K2 Integrity aimed at combating illegal activities and fraud, according to a statement. The agreement is part of the central bank's efforts to come off the global financial crime watchdog FATF's "grey list" of countries under special scrutiny. FATF placed Lebanon on the list last October.
Reuters
2 days ago
- Business
- Reuters
Jane Street deposits $567 million so it can resume India trading, sources say
July 14 (Reuters) - Jane Street, which has been accused of market manipulation by Indian authorities, has deposited $567 million in escrow accounts which will allow the U.S. firm to resume trading, two sources with direct knowledge of the matter said on Monday. The Securities and Exchange Board of India (SEBI) this month barred the U.S. high-frequency trading giant from buying and selling securities in the Indian market and put a seize on $567 million of its funds. Jane Street would only be allowed to resume trading if an equivalent amount of funds were deposited in an escrow account. The company has told its staff it plans to contest SEBI's allegations and that the practices in question were "basic index arbitrage trading". "The money has been deposited in good faith. The firm continues to contest the order and will send a formal response rebutting the allegations in coming weeks," said one of the sources. Both sources were not authorised to speak to media and declined to be identified. Jane Street and the Securities and Exchange Board of India did not immediately respond to a Reuters request for comment. SEBI alleges that Jane Street bought large quantities of constituents in India's Bank Nifty (.NSEBANK), opens new tab> index in the cash and futures markets to artificially support the index in morning trade, while simultaneously building large short positions in index options which were exercised or allowed to expire later in the day. The regulator, which tracked Jane Street's trading patterns for more than two years, has also widened its investigation to include other indexes and exchanges, a source has said. Jane Street does not intend to trade in Indian options while the dispute is unresolved, said one of the sources.
