MUMBAI: The markets watchdog Sebi has said the New York based algo trader Jane Street, which was banned from the market on July 3 for alleged market manipulation, has complied with its directive to deposit Rs 4,843.5 crore in an escrow account.
Following this the company has also made a request to lift certain conditional restrictions the regulator had slapped on it through the interim order.
Jane Street’s request for removal of certain conditional restrictions is under consideration, Sebi said in a statement which acknowledged the payment of Rs 4,843.5 crore by the company.
The Sebi had directed impounding of Rs 4843.5 crore—the amount Sebi believes is illicitly made by the company--in an interim order on July 3 and restrained the Jane Street and its associates from trading in domestic markets.
Sebi had found that Jane Street made a killing by manipulating Bank Nifty on expiry days. Between January 2023 and March 2025, just by gaming the market on 21 trading days it made a whopping Rs 36,503 crore of net profit by pumping up Bank Nifty component stocks in the morning and to ramp up volume and then dumping them at lower prices in the afternoon trades.
“This is to confirm that Jane Street has informed Sebi that in compliance with the July 3 interim order, Rs 4,843.57 crore has been credited to an escrow account with a lien marked in favour of Sebi,” Sebi said in a statement Monday.
The regulator further said, the US company has further requested Sebi that following the creation of this escrow account in compliance with Sebi directions, certain conditional restrictions imposed under the interim order be lifted.
“This request is currently under examination by Sebi in accordance with the directions of the interim order,” Sebi statement added.