Stock market regulator SEBI has banned Jane Street Group from accessing the country’s securities market, a Bloomberg report has said. In an order published on its website, SEBI said that Jane Street Group and its related companies are not allowed to buy, sell, or deal in any securities, either directly or through others. The company has, in its response, disputed the findings of the interim order and said that they will further engage with the regulator, reported Reuters.
The market regulator will impound Rs 4,843 crore (about $566.71 million) from Jane Street, calling it “unlawful gains” made through suspected wrongdoing. The regulator also said it will keep a close watch on Jane Street’s current trading positions until its investigation is complete.
SEBI also told banks not to allow any money to be withdrawn from the accounts linked to these companies—whether held individually or jointly—without its permission.
The move comes as SEBI continues to investigate the US-based firm over its derivatives trading. Some market players have accused Jane Street of market manipulation. Last year, the company earned over $2.3 billion in profit from equity derivatives trading in India.
The news about SEBI’s action comes at a time when several big global trading companies, like Citadel Securities, IMC Trading, Millennium, and Optiver, are increasing their activity in India’s fast-growing derivatives market.
