At the heart of the controversy is Jane Street’s aggressive trading in the derivatives (futures) segment, where the firm executed trades designed not just to profit, but to sway the market itself. Here's how.

Tuhin Kanta Pandey, Chairman of the Securities and Exchange Board of India (Sebi), issued a strong warning on Saturday against market manipulation, asserting that such practices—like those allegedly committed by US-based Jane Street—will not be tolerated.

Following its ₹4,843 crore order against Jane Street Group for alleged index manipulation, Sebi Chairman Tuhin Kanta Pandey issued a stern warning that market misconduct — from domestic or foreign entities — will face zero tolerance.