Jane Street Deposits Rs 4,843 Cr! Will SEBI Let Them Back In? | Economy News
New Delhi: US trading firm Jane Street Group has deposited Rs 4,843.5 crore (about $564 million) into an escrow account, following an order from the Securities and Exchange Board of India (Sebi) Money control reported . This deposit, made on July 11, allows Jane Street to start trading again in India, but only if it avoids the trading strategies Sebi flagged as manipulative.
Sebi had earlier banned Jane Street from the Indian markets, accusing the firm of making illegal gains through questionable trading practices. The ban led to a sharp drop in stock prices, with BSE shares falling 21 percent from their June peak and closing at a two-month low.
Now that Jane Street has complied with the main condition—depositing the disputed amount—the trading ban is lifted, though the firm must not use the strategies Sebi found problematic. It’s not clear if Jane Street will jump back into trading right away or take it slow. Sebi has also told exchanges to keep a close watch on Jane Street’s future trades to prevent any further manipulation.
Jane Street denies any wrongdoing and says Sebi misunderstood its hedging strategies. The case is still under investigation. If Jane Street is cleared, the deposited money could be returned to the firm.
