Retail trading may be impacted if prop giants like Jane Street step back, warns Zerodha CEO
This development could have negative implications for both exchanges and brokers, he added.
"Prop trading firms like Jane Street account for nearly 50% of options trading volumes. If they pull back – which seems likely – retail activity (~35%) could take a hit too. So this could be bad news for both exchanges and brokers," Kamath said on X.
"The next few days will be telling. F&O volumes might reveal just how reliant we are on these prop giants," he added.
In an order released in the early hours of Friday, the market regulator found Jane Street (JS), a New York-based hedge fund, guilty of manipulating the indices by taking bets in the cash, and, futures and options markets simultaneously for making handsome gains.
It has barred the hedge fund from accessing the market and impounded over ₹ 4,843 crore in gains. The probe has found that JS made a profit of ₹ 36,671 crore on a net basis during the probe period from January 2023 - May 2025.
Kamath said that if the allegations against Jane Street are true, it's "blatant market manipulation" and despite warnings from the exchange, it continued.
"The shocking part? They kept at it even after receiving warnings from the exchanges. Maybe this is what happens when you're used to the lenient U.S. regulatory regime. Think about the structure of U.S. markets: dark pools, payment for order flow, and other loopholes that allow hedge funds to make billions off retail investors.
"None of these practices would be allowed in India, thanks to our regulators, You've got to hand it to Sebi for going after Jane Street," he added.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
Pradhan visits HAL facility in Koraput, CUO
1 2 Koraput: Union education minister Dharmendra Pradhan began his two-day visit to Koraput district on Saturday with a visit to the Hindustan Aeronautics Limited (HAL) engine and component manufacturing unit at Sunabeda. Emphasising its strategic importance in national defence, Pradhan called for development of a HAL-based MSME cluster to spur employment and entrepreneurship in the region. He urged HAL to collaborate with IIT Madras and Central University of Odisha (CUO) to offer diploma and undergraduate programmes in aerospace, defenc, and related sectors. "The objective is to develop a skilled workforce with domain expertise and promote innovation from the school level," he said. Pradhan also advised establishment of HAL-sponsored STEM (science, technology, engineering and mathematics) laboratories in schools across Koraput, Malkangiri, Nabarangpur and Rayagada districts. "The laboratories would provide early exposure to scientific disciplines and lay the groundwork for future careers in technology," he said. Applauding HAL Koraput's contributions to the aviation sector — particularly its role in manufacturing components for MIG and Sukhoi aircraft — Pradhan said the unit has been instrumental in India's self-reliance in defence and aerospace. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like local network access control Expertinspector Learn More Undo In alignment with Prime Minister Narendra Modi's 'Vocal for Local' mission, the minister encouraged HAL to support the promotion of Koraput Coffee, Kotpad handloom and the region's tribal heritage to strengthen local identity and boost the rural economy. Later in the day, Pradhan visited CUO campus in Sunabeda, where he inaugurated hostels and staff quarters and laid the foundation stone for an infrastructure project aimed at transforming the institute. A total of Rs 750 crore has been sanctioned for campus development. To elevate the university to global standards, an MoU was signed between six centrally funded higher education institutes in Odisha — CUO, IIT Bhubaneswar, IIM Sambalpur, NIT Rourkela, IISER Berhampur and National Sanskrit University, Puri. Updating the status of academic staff, Pradhan said 70 posts have recently been filled and CUO aims to fill at least 130 out of sanctioned 153 teaching positions in the next year. He also announced that CUO will introduce new diploma and undergraduate courses in artificial intelligence, machine learning and agri-business from the next academic year.
India Today
an hour ago
- India Today
Trump says TikTok deal talks with China could begin next week
US President Donald Trump said that discussions with China over a potential deal involving TikTok are expected to start as early as Monday or Tuesday. Speaking aboard Air Force One, Trump said the US "pretty much" has a deal in place and suggested talks could include Chinese President Xi Jinping or a representative.'I think we're gonna start Monday or Tuesday talking to China, perhaps President Xi or one of his representatives, but we pretty much have a deal,' Trump said. advertisementHe also mentioned the possibility of a personal meeting with Xi, saying either leader might travel to the other's country after they extended mutual invitations last month. The announcement comes after Trump signed his third executive order, delaying the enforcement of a potential ban on TikTok in the US. This order gives its China-based parent company, ByteDance, until September 17 to finalise the divestiture of its US operations. The popular short-video app has over 170 million users in the United States.A deal to spin off TikTok's US business into a new, majority American-owned company had been progressing earlier this year but was stalled after China pushed back, particularly in the wake of Trump's announcement of new tariffs on Chinese imports. Trump acknowledged that any final deal would likely need Beijing's asked about China's willingness to agree, Trump said, 'I'm not confident, but I think so.' 'President Xi and I have a great relationship. I think the deal is good for China and good for us,' he responded with a statement thanking both President Trump and Vice President JD Vance, pledging to continue working with Vance's office to finalize an first intervened in the matter shortly after returning to office, following a Supreme Court ruling upholding the TikTok ban. He issued an initial executive order, followed by a second one in April, setting a June 19 deadline. The latest extension, issued in June, marks the third delay, giving ByteDance another 90 days to reach a deal or face a US ban.- Ends
Time of India
2 hours ago
- Time of India
UAE: Dubai airports sells 2.5 million chocolate bars in 6 months, here are the top brands
Dubai Duty Free saw a surge in chocolate sales, with 2.5 million bars sold in the first half of 2025, driving Dh165 million in revenue/ Image Composite: Instagram Dubai's airports have become a chocolate lover's paradise, with a remarkable 2.5 million bars of locally made chocolates sold in just the first half of 2025. This surge in sales, which has generated an impressive Dh165 million in revenue, underscores the increasing demand for UAE-based chocolate brands. Speaking to local media outlet Dubai Eye, Ramesh Cidambi, CEO of Dubai Duty Free, highlighted that these sales have provided a significant boost to the local economy. Cidambi pointed out that, since these brands are homegrown, the majority of the revenue from these chocolate sales remains within the UAE, benefitting the country's economy as a whole. FIX : The Viral Pistachio Kunafa Chocolate FIX has become synonymous with "Dubai chocolates," particularly due to its world-famous pistachio kunafa chocolate. This unique fusion of traditional Middle Eastern dessert flavors with chocolate took the world by storm. Despite various attempts by other brands to replicate it, the authentic FIX taste remains an exclusive treat found only in the UAE. In an exclusive collaboration with Dubai's Crown Prince Sheikh Hamdan, FIX crafted a one-of-a-kind chocolate flavor, tailored to his personal preferences, which included Halawt, a traditional Middle Eastern dessert. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An engineer reveals: One simple trick to get internet without a subscription Techno Mag Learn More Undo The brand has continued to innovate, recently launching a tropical flavor, "Time to Mango," which aims to capture the essence of Dubai's sunny climate. L'ocali: Luxury Meets Heritage The Dubai-born brand L'ocali blends two key pillars of the UAE, heritage and luxury. Its chocolates, which include dates wrapped in 24k edible gold, embody the opulence that Dubai is famous for. L'ocali's offerings also include chocolate-coated dates with various fillings such as pistachio, rose, and orange peel, as well as gourmet chocolates crafted from Belgian truffles and Swiss chocolate. The brand's focus is on capturing the essence of Dubai's luxury experience, making it a favorite among both locals and tourists. Bateel: The Pioneer of Date Chocolate Bateel is more than just a chocolate brand, it's a part of the UAE's culinary heritage. Established in 1992, the brand is deeply rooted in both the UAE and Saudi Arabian traditions, with its headquarters in Dubai. The word "Bateel" refers to the young offshoot of a date palm tree, symbolizing growth and new beginnings, which aligns with the brand's commitment to innovation in chocolate. Bateel revolutionized the chocolate industry when it "invented the date chocolate" in 2000, combining the rich flavors of dates with the decadence of high-quality chocolate. Beyond its signature date chocolates, Bateel also offers artisanal chocolates from regions like Brazil and the Dominican Republic, along with cookies inspired by Middle Eastern flavors like date dhibs and milk chocolate sesame praline. The brand's expansion into the broader food sector, with the opening of Cafe Bateel in 2007, cemented its position as a beloved spot for residents and visitors alike. In 2023, it launched Bateel El'an, a more compact, cafe-focused format. Al Nassma: The Camel Milk Chocolate Pioneer Founded in 2008 by Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum, Al Nassma is the UAE's first camel milk chocolate brand, and it has become an iconic name in the Middle East. Camel milk has long been a staple in the region, particularly among Bedouins, and Al Nassma uses this unique ingredient to craft chocolates that reflect the traditions of the Arabian desert. The brand has made a mark with its "hollow figures," caravan boxes, pralines, and chocolate bars. Known for its luxurious offerings, Al Nassma has positioned itself as the "Godiva of the Middle East," combining high-quality chocolate with the distinct flavor of camel milk. Samha: Camel Milk with a Twist Launched in 2019 by Prime Chocolate, the parent company of Al Nassma, Samha brings another dimension to the world of camel milk chocolate. While Al Nassma offers a broad range of camel milk-based chocolates, Samha focuses specifically on camel milk-covered dates, which are a local favorite. Samha has also embraced the pistachio kunafa flavor, adding a camel milk twist that brings a unique local touch. The bite-sized treats are a popular choice for birthdays, gatherings, and celebrations, helping people from diverse nationalities in the UAE share a taste of local culture. I Love Dubai: A Fusion of Local Flavors If you thought pistachio kunafa chocolate was the most innovative combination, think again. "I Love Dubai" offers some of the most unique chocolates in the region, including pistachio baklava chocolate and gahwa crunch. The pistachio baklava is a nod to the UAE's rich history of layered desserts, while the gahwa crunch incorporates gahwa, the Emirati term for Arabic coffee, a symbol of the country's legendary hospitality. Another standout is halwa rahash, a Middle Eastern dessert made from sesame seed paste. It has a nutty, fudge-like texture, and when paired with chocolate, it creates a truly distinctive local flavor experience.
