The decision was made surprising to the participants of the market, because a former part is rarely seen for companies accused of violating such a large amount of money to comply with the interim order. “Jane Street’s action to deposit this amount may be intended to establish its enthusiasm,” said a senior Supreme Court lawyer.
Sebi is investigating the Pay FIRM request to lift the trading ban on it. The regulator will give directions to the intermediate sanctions, including stock exchanges and deposits to enhance interim order sanctions, people aware of the development, said Jane Street deposited money on Friday. The verification was conducted by the regulator on Monday.
AgencyDerivatives Market Foot
Three days after the curbs were imposed, Jane Street told his staff that Sebi’s order “reflected the standard hedging practices and the misunderstanding of the interconnected between the derivatives and the underlying markets.”
He then said that Sebi claims that Pay FIRM’s activity is “first clever”, he ignores the role of liquidity providers and arbitrators in the markets.
SEBI banned Jane Street from trading in Indian markets after its alleged index manipulation of its order, including bank shares and bank shares and Nifty index futures and options.
A high-frequency trader was told that if he was deposited at Rs 4,844 crore, he would be allowed to resume trade, which is estimated to be “illegal benefits” from the alleged manner.
Legal alternatives
Lawyers said that Jane Street complies with Sebi’s interim order, however, the Pay FIRM will still reject the allegations. Jane Street also has the option of challenging SEBI findings on the Securities and Appeal Tribunal (SAT).
Sebi confirmed that despite Jane Street’s action, Pay FirM reserves its legal and fair rights and remedies.
“Based on the reading of Sebi’s order, the trading restriction on the deposit of the specified amount will be lifted. However, the trades will be pronounced by exchanges and subject to the no-bridge regime,” said Sandeep Parekh, managing partner of Law Firm Finnq Law Advisors. “On an operational basis, Sebi may have to instruct exchanges and deposits to lift the previous ban, but it will only be plumbing of the order.”
The absence of Jane Street has affected the derivatives market. Following the July 3 Sebi order, the National Stock Exchange (NSE) saw a significant decline in daily average turnover for the trade of about 17%of the index options in the past week.
Sebi’s investigation shows that the trading pay FIRM bank was engaged in a manipulative deal in the end days of the Nifty derivatives, which pushed the result into their favor.
According to the verification, the manipulation index by Jane Street occurred on the end days of the options. Sebi has accused Jane Street of smuggling shares and futures prices to gain outcase profits through options these days.
SEBI sought a ban on regulation of unfair trade practices for market manipulation, covering any act or practice. It focuses on Jane Street’s about 20 days trading data that shows the highest profit.
Some legal experts said that Sebi did not analyze Jane Street’s entire data, including millions of trade. “Celebrated the days of winning and winning days for several days,” a lawyer said.
The regulator will issue a final order after completing its investigation and after the hearing of Jane Street.
According to SEBI, the company has made a profit of Rs 43,89 crore in index options and made a profit of Rs 7,687 crore in stock futures, index futures and cash markets on the NSE between January 2023 and March 2025.
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