India bars Jane Street from accessing its securities market- Bloomberg News

India’s markets regulator bars US trading firm Jane Street from accessing the country’s securities market

Getting the details on this. It’ll be interesting hearing the reasoning. Algo-driven firms like this tend to not have too many fans … but they do provide liquidity and what have you to markets (yeah, most of the time ….).

I know earlier in June India’s securities regulator, SEBI, was conducting a major investigation into Jane Street Group over suspected market manipulation involving derivatives trading. The inquiry centred on whether the firm’s activity distorted benchmark stock indices in India.

Bloomberg is gated, but in brief:

Securities and Exchange Board of India (SEBI):

• Jane Street Group entities “are restrained from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly.”

Related to what I wrote above as background.

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