New Delhi, July 28 -- Jane Street said on Monday that it has requested more time to reply to an interim order from India's markets regulator, the Securities and Exchange Board of India (SEBI), alleging it manipulated Nifty and Bank Nifty indices.

SEBI, in an interim order on July 3, barred the US trading firm from trading securities in the Indian market, saying some of its trading strategies were manipulative and led to losses for retail investors. The board had given Jane Street 21 days to respond.

Jane Street sought an extension because it needed more time to rebut the allegations about its trades. A source aware of the development mentioned that the quant trading firm has also requested for data from the regulator to be able to respo...