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“Jane Street is committed to conduct that upholds the integrity of India’s capital markets and contributes to their continued development. We are engaging constructively with SEBI and have sought an extension to respond to the interim order issued on July 3,” the US-based firm said in a statement issued on Monday.
On July 21, Sebi had given conditional relief to U.S. trading company by allowing it to access the securities market and carry out trading activities. Sebi’s conditional relief came after Jane Street created a Rs 4,844 crore escrow account.
The trading company has also been allowed to use its bank accounts for debit purposes.
Jane Street, one of the world’s most sophisticated trading firms pulled off a Rs 36,500 crore market scam making a whopping Rs 43,289 crore options profits while deliberately losing Rs 7,208 crore in futures and equities.
The market watchdog in a 105 page order issued on July 3, had imposed comprehensive interim restrictions on Jane Street pending detailed investigation. Jane Street entities are completely restrained from accessing securities markets and prohibited from buying, selling, or dealing in securities directly or indirectly.The regulator had also ordered impounding of Rs 4,843.57 crore in unlawful gains, requiring Jane Street to deposit this amount in an escrow account with a lien in favor of SEBI. All bank accounts, demat accounts, and custodial accounts are frozen, with no debits allowed without SEBI permission (though credits can be accepted).
