Market manipulation: Jane Street officials to appear before Sebi next month

The high-frequency trading firm will appear before Sebi after being accused of manipulating Bank Nifty trades; proceedings may take up to eight months

Jane Street Group representatives are scheduled to appear before the Securities and Exchange Board of India (Sebi) for a personal hearing in early September, according to people familiar with the matter. This will be the high-frequency trading (HFT) firm’s first in-person interaction with the regulator since Sebi, in an interim order on July 3, barred it from trading for alleged market manipulation. The ban was later lifted after Jane Street deposited ₹4,840 crore, which the regulator had identified as gains from disputed trades involving the Nifty Bank index. 

Sebi had initially given the trading firm 21 days to respond to