How Jane Street Group drove illegal profits: Expert decodes SEBI's Rs 4,843 crore chase

Mumbai (Maharashtra) [India], July 4 (ANI): In a major development, the Securities and Exchange Board of India (SEBI) has passed an interim order against the Jane Street Group, to impound Rs 4,843.57 crore of illegal gains by manipulating the securities market, particularly on expiry days of Bank Nifty options. ANI spoke with various experts to decode the trading strategy adopted by JS group to make undue and illegal profit from market movements at the cost of retail investors. Speaking to ANI, Uttam Bagri, Managing Director of BCB Brokerage, explained that Jane Street followed a strategy that misused the connection between the cash and derivatives segments. "What they did was, in the cash segment, they kept taking strong long positions. At the same time, in the derivatives segment, they were going short, with a much larger position," Bagri said.