Jane Street likely to challenge SEBI ban: Report

US trading giant Jane Street, accused of market manipulation by Indian market regulator SEBI, is likely to contest the allegations levelled against it, according to a report.

A Reuters report noted that Jane Street was “beyond disappointed” by the Securities and Exchange Board of India (SEBI) accusation, and it is working on a response to it, Jane Street told its employees in an email.

The email, however, did not clarify the action that will be taken to challenge the ban, as per the report.

SEBI barred Jane Street and three of its related entities from accessing the market, directing them to deposit illegal gains of ₹4,843.5 crore in an account in favour of the markets regulator.

In its order, the regulator also directed a debit freeze on the bank accounts of these entities, which include JSI2 Investments Private Ltd, Jane Street Singapore Pte. Ltd and Jane Street Asia Trading Ltd. According to the SEBI order, Jane Street earned ₹43,289.33 crore in profits through trading in index options on Indian exchanges between January 1, 2023, and March 31, 2025.

The market regulator passed the order as part of an enforcement action. It applies to all Jane Street Group entities operating in India and restricts their ability to trade or participate in any market-related activity.

Jane Street has disputed the findings of SEBI’s interim order and said it will further engage with the regulator.

SEBI Chairperson Tuhin Kanta Pandey on Saturday had said that the regulator will not tolerate market manipulation.

(with inputs from syndicated feed)