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Jane Street barred from Indian markets as regulator freezes $566M

(www.cnbc.com)
518 points bwfan123 | 2 comments | 06 Jul 25 14:03 UTC | HN request time: 0.643s | source
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thedailymail ◴[06 Jul 25 21:36 UTC] No.44484295[source]▶
>While these actions were not a breach of any regulation, SEBI said that the “intensity and sheer scale” of their intervention, and the rapid reversal of their trades “without any plausible economic rationale, other than the concurrent activity in and impact on their positions in the BANKNIFTY index options markets,” was manipulative.

I don't get the basis for regulatory action if they weren't in "breach of any regulation." Not a fan of financial skullduggery, but it does seem important for government agencies to play by explicit, non-arbitrary rules. (Or maybe this article just got it wrong?)

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1. Tadpole9181 ◴[06 Jul 25 22:25 UTC] No.44484673[source]▶
Honestly, there's a good case to be made that it doesn't matter. A government has every right to say "don't manipulate our market and try to fuck our economy" and not need to specify every tiny little loophole, especially to foreign companies. The fact that they must be reactive means they are always behind, and guarantees their country will be screwed and untold damage done before the problem can be addressed.

There is absolutely zero illusion that Jane Street is acting in good faith. They know what they're doing is wrong.

After all the manipulation, all the crashes, all the exploitation - maybe it is appropriate to just say "I don't care if we wrote it down, we've had enough of this shit".

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2. throwaway2037 ◴[07 Jul 25 01:18 UTC] No.44485780[source]▶

    > A government has every right to say "don't manipulate our market and try to fuck our economy"
Friendly reminder: The stock market is not the economy.