India's regulators have banned Jane Street Group from entering the local securities market, a heavy blow to the US trading company, which achieved net revenue of more than $2.3 billion through stock derivatives business in South Asia last year. India's Securities and Exchange Commission said it will seize 484 billion rupees from Jane Street, which the agency says is the total amount of the fund's illegal proceeds. The decision was published on the regulator's website. According to the Securities and Exchange Commission of India, Jane Street Group entities are “prohibited from entering the securities market and are further prohibited from directly or indirectly trading or trading securities.” The decision also stated that banks are required to ensure that no deductions are made on accounts held separately or jointly by these entities without permission from the Securities and Exchange Commission of India. Charu Chanana, chief investment strategist at Saxo Markets in Singapore, said: “This may indicate that the Indian Securities and Exchange Commission is strengthening its supervision and is increasingly willing to control the activities of foreign institutions in the derivatives market, especially when such strategies blur the line between intelligent trading and market manipulation.” Following allegations of manipulation by the US company by some market participants, the Securities and Exchange Commission of India began an investigation into Jane Street's derivatives transactions.

India's regulators have banned Jane Street Group from entering the local securities market, a heavy blow to the US trading company, which achieved net revenue of more than $2.3 billion through stock derivatives business in South Asia last year. India's Securities and Exchange Commission said it will seize 484 billion rupees from Jane Street, which the agency says is the total amount of the fund's illegal proceeds. The decision was published on the regulator's website. According to the Securities and Exchange Commission of India, Jane Street Group entities are “prohibited from entering the securities market and are further prohibited from directly or indirectly trading or trading securities.” The decision also stated that banks are required to ensure that no deductions are made on accounts held separately or jointly by these entities without permission from the Securities and Exchange Commission of India. Charu Chanana, chief investment strategist at Saxo Markets in Singapore, said: “This may indicate that the Indian Securities and Exchange Commission is strengthening its supervision and is increasingly willing to control the activities of foreign institutions in the derivatives market, especially when such strategies blur the line between intelligent trading and market manipulation.” Following allegations of manipulation by the US company by some market participants, the Securities and Exchange Commission of India began an investigation into Jane Street's derivatives transactions.