US-based trading firm Jane Street Group LLC has sought an additional six weeks to respond to an interim order from the Securities and Exchange Board of India (SEBI), issued on July 3, related to alleged market manipulation involving Indian options trades.
The firm stated it is engaging constructively with the regulator but did not disclose details of its request or response strategy.
According to a source familiar with the matter, SEBI is currently considering granting only four additional weeks, instead of the six requested by Jane Street. The firm was originally given 21 days to respond, but the deadline expired last week.
The matter remains under discussion, and SEBI board member Ananth Narayan may still take a final call on whether the full extension will be allowed.
Click here to explore other: NSE Stock Price Today
Last week, SEBI lifted the temporary trading ban imposed on Jane Street after the company deposited ₹48.4 billion (approximately $556 million) into an escrow account. This amount represents the alleged “unlawful gains” earned through the controversial trades being probed by the regulator.
Despite the removal of the trading restriction, the case remains active, and SEBI’s final decision will depend on Jane Street’s formal submission in response to the preliminary findings.
While Jane Street issued a brief statement confirming its cooperation, SEBI has not responded publicly to the extension request or provided any additional details regarding the ongoing investigation.
Jane Street’s request for more time reflects the complexity and high stakes of the case, especially given the substantial escrow deposit and SEBI’s scrutiny of options market activity.
As India’s regulatory landscape tightens around algorithmic and high-frequency trades, the final outcome of this case could set important precedents for foreign entities operating in Indian derivatives markets.
Recommended Read: NSDL IPO Subscribed 38% on Day 1; Retail Investors Lead with 51%
CAMS Shares Appear to Plunge 80% as 1:5 Stock Split Kicks In, but Investors Are…
Major Cloudflare Outage Ripples Across India’s Trading Platforms, Disrupting Market Activity A sudden Cloudflare outage…
IndiGo Shares Bounce Back as DGCA Offers Partial Relief on Pilot Duty Rules Amid Nationwide…
Shares of Yes Bank and Union Bank of India gained up to 3% on December…
DGCA Steps In With Temporary Rule Relaxation as IndiGo Flight Cancellations Deepen Across India In…
Petronet LNG’s stock saw a sharp upmove on December 4, rising more than 4 percent…
This website uses cookies.