Sebi's expanded probe may tighten noose around US trading firm Jane Street

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

As the Securities and Exchange Board of India’s (Sebi) probe into US-based trading firm Jane Street widens to cover more strategies and indices, early findings suggest a larger scale of alleged market manipulation, according to people familiar with the matter.

 

Since Sebi’s interim order in July, investigators have expanded their review to cover a broader set of securities and timeframes. The analysis has revealed additional suspicious trading patterns, indicating manipulation on a much wider scale, said sources with direct knowledge of the development.

 

An earlier report by the National Stock Exchange (NSE), which Jane Street has described as a “clean