How did US trader Jane Street allegedly cheat Indian markets of ₹36,500 crore?
US proprietary trading firm Jane Street has been banned from Indian markets for allegedly making illegal gains totalling ₹36,500 crore. SEBI found that Jane Street's three firms routinely took opposite positions in index derivatives, many of which were reversed in 75 seconds, to shift or stabilise closing prices. They also traded between their own accounts, creating false appearance of demand.