According to Ravi Hegde, SEBI has issued an interim, ex parte order based on its preliminary assessment. In an interview to ET Now he explained that SEBI believes Jane Street engaged in excessive trading in both stocks and futures. Drawing a parallel, Ravi recalls a previous instance during the Infosys case where SEBI found a strong correlation between derivative movements and cash market stocks. What raises eyebrows, he says, is that SEBI has allowed the trading restrictions to be lifted if the impounded amount is paid—raising concerns over how enforcement will be ensured.
