Jane Street informed its employees that its attempts to engage with SEBI and exchanges were consistently rebuffed before the regulator barred the firm from the Indian markets.
SEBI alleged Jane Street earned Rs 43,289.33 crore through index options trading and ordered the firm to deposit Rs 4,843.57 crore into an escrow account, also banning it from the Indian securities market.
Jane Street stated SEBI mischaracterized its trading strategy, emphasizing standard hedging practices and alignment of prices between options and the underlying index.
SEBI responded stating that its order clearly presents the regulator's case and declines further comments on the matter.