New Delhi, July 4 -- US-based Jane Street Group, one of the world's largest quant trading firms, is in hot water in India after a year-long investigation found the company made unlawful gains from index options. On 3 July, the Securities and Exchange Board of India barred four Jane Street entities from accessing the securities market and impounded Rs.4,843 crore in alleged illegal gains.

Jane Street Group, which was founded in New York in 2020, is known for its high-frequency algorithmic trading. Sebi said four JS Group entities, including two based overseas, systematically manipulated India's Bank Nifty, Nifty 50, Finnifty, and Midcap Nifty indices through its constituent stocks and derivatives over the past two years through May.

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