India markets regulator allows Jane Street to resume trading, sources say
The regulator sent an email to the firm on Friday in which it said that following the deposit of the money the restrictions imposed by its interim order are no longer applicable, said the sources who declined to be named because they are not authorised to speak to media.
In an interim order issued on July 3, the Securities and Exchange Board of India (SEBI) had barred the firm from buying and selling securities in the Indian market and froze $567 million of its funds. Jane Street could resume trading if an equivalent amount was deposited in an account that gives the regulator rights over the money until its investigation is complete, the order stated.
Email queries sent to Jane Street and SEBI were not answered immediately.
The country's stock exchanges, the National Stock Exchange of India Ltd and BSE Ltd., have been directed to closely monitor the activity of the U.S.-based quant trading firm, the sources said.
The two exchanges are yet to facilitate Jane Street's buying and selling of Indian securities, said one of the sources.
"While the firm has been allowed to resume trading in India, it has given an undertaking to SEBI that it will not trade in options. The firm also does not intend to trade in cash till it has explained its trades to SEBI," the second source said.
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