Sebi’s 100-page interim order authored by whole-time member Ananth Narayan G. offers a look into the inner workings of the US-based trading firm’s strategy, and how Jane Street allegedly distorted the Bank Nifty and Nifty 50 to profit from options trades.

Sebi’s probe into Jane Street may expand beyond Nifty options to include trades on other indices and exchanges. While the investigation could take time, it is unlikely to trigger broad market disruption,

India’s markets regulator, SEBI, has clarified that its ₹4,843 crore interim order against Jane Street Group is not a show cause notice. Investigations into alleged index options manipulation on the BANKNIFTY and NIFTY expiry days will continue.