Jane Street’s ₹48.44 Billion Escrow Move Under SEBI Review Amid Market Ban

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India’s capital markets regulator, SEBI, has confirmed that Jane Street Group’s request to lift certain restrictions imposed under its interim order is currently under examination. The development follows Jane Street’s formal notification that ₹48.44 billion has been credited to an escrow account, as directed by SEBI.

Key Highlights

Jane Street deposited ₹48.44 billion into an escrow account with a scheduled commercial bank in India
The firm has requested SEBI to reconsider conditional restrictions imposed under the July 3 interim order
SEBI is reviewing the request and has not yet made a final determination

Background and Interim Order

SEBI barred Jane Street and its affiliates from accessing the Indian securities market over alleged manipulation in equity derivatives
The regulator accused the firm of deploying highvolume strategies to distort index levels, particularly on expiry days
The interim order directed the seizure of unlawful gains and froze withdrawals from Jane Streetlinked accounts

Compliance and Next Steps

Jane Street’s escrow deposit fulfills a key compliance requirement under SEBI’s order
The firm seeks relief from trading restrictions, citing cooperation and financial compliance
SEBI’s review will determine whether any conditions can be relaxed or modified

Market Implications

The case has drawn attention to foreign institutional activity in India’s booming derivatives market
SEBI’s actions signal increased scrutiny of algorithmic and highfrequency trading strategies
A final ruling could set precedent for future enforcement against overseas entities

Sources: India Today, News18, Economic Times, Moneylife, Firstpost, SEBI Interim Order July 2025