Jane Street's Escrow Gamble: A Twist in the Market Manipulation Saga

Jane Street, a prominent US-based hedge fund, has deposited Rs 4,843.57 crore in an escrow account in compliance with a Sebi directive, following allegations of significant market manipulation for profit.

Sebi's interim order on July 3 found Jane Street guilty of manipulating indices by engaging in trades across cash and futures & options markets, leading to substantial gains. Subsequently, Sebi barred the fund from market participation.

In a move to potentially ease imposed sanctions, Jane Street has requested certain restrictions be lifted, a plea currently under Sebi's scrutiny, as it aims to maintain the securities market's integrity.

(With inputs from agencies.)