New Delhi, July 21 -- Derivative trading activity has noticeably slowed this month-a trend driven not just by the exit of aggressive US hedge fund Jane Street, but also by a sharp drop in market volatility, according to experts.

With no price-moving triggers visible currently-think tariffs, fresh wars-and earnings mostly in line with expectations, traders have perched themselves on the fence, leading to lower volumes and a quieter market.

In the first 13 trading days of July, the average daily premium turnover fell 20% on the BSE and 13% on the NSE compared to the same stretch in June, exchange data showed. Market regulator Sebi's (Securities and Exchange Board of India) interim Sebi order against Jane Street came on 3 July.

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