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.

India's markets regulator has widened its probe into alleged market manipulation by U.S. securities trading firm Jane Street to include other exchanges and indices, according to a source, after barring it from trading in the Indian markets earlier on Friday.

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,