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

(www.cnbc.com)
518 points bwfan123 | 1 comments | 06 Jul 25 14:03 UTC | HN request time: 0.206s | source
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balderdash ◴[06 Jul 25 20:27 UTC] No.44483756[source]▶
Having formerly worked for an NYSE Specialist firm the role of market making is incredibly important, but many large-scale HFTs today operate in ways that either stretch the legal boundaries or exploit regulatory gaps. Many practices arguably amount to market manipulation in spirit, even if technically legal. Candidly, the regulators are either too lazy, stupid, ill equipped or uninterested to do anything about it.
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zeroCalories ◴[06 Jul 25 20:36 UTC] No.44483821[source]▶
Does it really matter? I've done nothing but buy and hold at reasonable prices, and market manipulation has never affected my trades. This seems like finance bros fucking finance bros, which is solidly in the "who cares" category of my life.
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ycombinatrix ◴[06 Jul 25 20:40 UTC] No.44483856[source]▶
Our 401k & pensions are managed by "finance bros"
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sokoloff ◴[06 Jul 25 21:15 UTC] No.44484120[source]▶
I hope mine is not managed by someone dumb enough to keep handing money over to Jane Street on such a simple scheme. If they are that dumb, I need to move my money way more than I need Jane Street punished.
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throwaway2037 ◴[07 Jul 25 01:11 UTC] No.44485731[source]▶
Real question: Does Jane Street accept outside money? I don't think so.

    > on such a simple scheme
If the scheme is so "simple", why aren't more firms doing it in India?
replies(1): >>44495218 #
1. fakedang ◴[07 Jul 25 22:23 UTC] No.44495218[source]▶
Scale and exposure. That's my hypothesis.

Nobody wants to commit as much to Indian markets because it's relatively primitive compared to more lucrative markets such as the US, China, etc. Jane Street was an outlier in that they took a bold bet on executing this manipulation strategy. Hence they readily dumped in billions, with an assured annual 1B profit. Because there are not many players to dig in and track their moves, they went largely unnoticed by other players.