Sebi's 105-page order highlights Jane Street's trades on Jan 17, 2024 - its most profitable day in a two-year period under review by the regulator
The regulator lifted the trading ban on the HFT firm after it deposited ₹4,843.57 crore in an escrow account
A new institutional mechanism to check market abuse is expected to relax certain compliance rules for fund managers starting next month
The larger question is whether India's F&O market serves any real purpose
The Badla system was a hybrid cash & futures trading product. It was offered on the BSE, and had been an age-old system for trading on margin
Earlier this month, Sebi had temporarily barred Jane Street from accessing Indian markets, accusing the firm of manipulating the popular Bank Nifty index
Sebi confirms that Jane Street has complied with its directions to cease unfair trading practices and deposited ₹4,843.57 crore in an escrow account to resume operations in the domestic market
Market regulator Sebi alleges Jane Street used coordinated trades to distort index prices and profit from expiry-day volatility. The firm denies wrongdoing and has challenged the ban
Institutional investors wary of midcap valuations, regulatory risks, and global cues; manufacturing seen as key investment theme
But bourses to closely monitor company's future dealings on ongoing basis
The revelations in this recent case should lead to a reassessment of the foundations of India's financial markets
HFT firm Jane Street moves Sebi to lift interim curbs after parking Rs 4,844 crore in escrow; regulator says it will issue appropriate directions soon
The Jane Street fallout has already taken a toll on BSE, with the shares on July 4 suffering one of their steepest declines this year - extending a slide that had already begun