What is Jane Street and why is Sebi probing the trading giant in India?

Jane Street is facing Sebi scrutiny in India and a lawsuit in the US after raking in billions through algorithmic trading strategies in equity derivatives markets

The Securities and Exchange Board of India (Sebi) is probing global trading firm Jane Street's derivatives trading activities in the last three years, suspecting potential manipulation of benchmark indices. The probe focuses on algorithmic trading strategies in NSE's Nifty 50 and banking indices used by Jane Street, which led to unusually high profits, and this triggered complaints from other firms. Here is an explainer on what Jane Street is and why Sebi is probing the trading firm:

 

What is Jane Street?

 

Jane Street is a leading global trading firm that leverages advanced quantitative analysis to drive its proprietary trading business