He believes the alleged activity began around late August to early September 2023. “This is when our India index options trading went from Sharpe 10 to 0 overnight… completely shut down earlier in 2025,

India's markets regulator has widened an investigation into alleged market manipulation by U.S. securities trading firm Jane Street to include other indexes and exchanges, a source familiar with the matter said.

India has banned the firm from the country’s financial markets and said it would seize around $570 million in profit for allegedly fraudulent trades.