Jane Street seeks order logs and counterparty details to defend itself in the market manipulation case, while Sebi argues that it has disclosed all material relied upon so far
The tribunal asks Sebi to specify material shared beyond its legal obligations as Jane Street seeks trading data and other documents; the hearing continues on Thursday.
Sebi told SAT that Jane Street has received sufficient material to answer manipulation allegations and should explain its trading conduct instead of seeking more documents
Sebi has signaled internally that it is getting more proactive in examining transactions by domestic and international traders as part of an effort to protect retail investors
As smoking lost its cinematic allure, options trading too must be deglamourised through taxation, regulation and cultural signalling to curb risky "get rich quick" behaviour
SEBI's response, which has yet to be made public, will say that Jane Street's appeal represents a delaying tactic by the US trading giant, one of the sources told Reuters
Narayan, who has spent more than two decades at global banks including Standard Chartered Plc, has been a driving force behind the charges against Jane Street
India has not done badly-it's just that other markets have done better, Wood said. For India, he believes, the inflows from domestic investors have been critical in preventing a correction.
Jane Street has been under the spotlight since July, when the Securities and Exchange Board of India (Sebi) barred the firm from trading in domestic markets over alleged manipulative practices
Sebi has broadened its probe into Jane Street beyond Bank Nifty to other indices, with early findings suggesting wider market manipulation than seen in the July order
SAT admitted Jane Street's appeal against Sebi over alleged Bank Nifty manipulation, asking Sebi to reply in 3 weeks, with the next hearing set for November 18
Jane Street has appealed to the Securities Appellate Tribunal against Sebi's July 3 order, alleging denial of crucial documents and bias in the Nifty Bank manipulation probe