SEBI bans Jane Street

Securities Exchange Board of India (SEBI) has barred US-based Jane Street Group from the securities markets and directed the group to disgorge unlawful gains of Rs 4,843 crore for allegedly manipulating stock indices through positions taken in derivatives segment.

- PRESS TRUST OF INDIA

This could be the highest disgorgement amount ever directed by the SEBI. In its interim order, the regulator has debarred JSI Investments, JSI2 Investments Pvt Ltd, Jane Street Singapore Pte Ltd, and Jane Street Asia Trading -- entities collectively referred to as the Jane Street Group from trading until further notice, while continuing its investigation.

Established in 2000, Jane Street Group LLC is a global proprietary trading firm in the financial services industry. It employs more than 2,600 people across five offices in US, Europe, and Asia, and conducts trading operations in 45 countries.

The Jane Street (JS) Group has come under SEBI’s scrutiny for allegedly manipulating index levels in the stock market to earn illegal profits, primarily through the highly liquid Bank Nifty and Nifty index options segments.