Global trading powerhouse Jane Street Group has taken a key step towards returning to Indian markets by reportedly depositing Rs 4,843.5 crore into an escrow account, in line with SEBI's July 3 interim order. This move fulfills a critical condition imposed by the regulator, which had temporarily barred the firm from trading for allegedly using manipulative strategies in Indian stock markets.
Following the deposit, SEBI has lifted the trading ban, effectively allowing Jane Street to resume operations. However, this green light comes with strings attached. The firm has been directed to steer clear of any trading practices that may be deemed manipulative, and its activity will be closely monitored by exchanges.
Jane Street, meanwhile, maintains its innocence. The firm has claimed that SEBI misinterpreted what it described as a standard hedging strategy. SEBI's order permits Jane Street to contest the allegations, and a final verdict will be delivered after a detailed investigation and hearing.