Jane Street cleared to trade in India after ₹4,843.5 crore SEBI deposit: Report

One of the world’s largest quant trading firms, Jane Street Group, has reportedly deposited ₹4,843.5 crore in an escrow account—fulfilling one of the key conditions set by the Securities and Exchange Board of India (Sebi) on July 3, when it barred the US-based high-frequency trader from participating in the Indian stock market.

According to a Moneycontrol report, after depositing the money, Jane Street Group is free to start trading in Indian equity markets.

The Moneycontrol report, quoting highly placed sources, said: “Jane Street Group deposited ₹4,843.5 crore on Friday in compliance with the Sebi order. With the deposit made in an escrow account and the order’s terms met, Jane Street can now resume its trading operations on the exchanges.”

Mint could not independently verify this news.

On 3 July, Sebi barred four Jane Street entities from accessing the Indian stock market and impounded ₹4,843 crore in alleged illegal gains.

Sebi said four Jane Street Group entities, including two based overseas, systematically manipulated India’s Bank Nifty, Nifty 50, FinNifty, and Midcap Nifty indices through their constituent stocks and derivatives over the past two years through May.

Meanwhile, Sebi is now examining Jane Street’s alleged manipulation of Sensex options contracts as well.

"The investigation is ongoing and would not be limited to the NSE indices, but would also include the Sensex options, whose popularity soared in the past two financial years," Mint reported, quoting one of the persons, speaking on the condition of anonymity.

"Sensex options have gained market share in recent years, and by that token, trades here too would not escape regulatory attention for any possible instances of manipulation by the JS Group," a second source told Mint.

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