The Secret Behind Jane Street’s India Trades That Made Billions

From Amsterdam to Hong Kong and New York, it had become the talk of the town: A unique derivatives strategy fabulously profitable in India.

Those trades now are the very reason why Jane Street Group LLC has been temporarily banned from India’s securities market. The nation’s regulator alleged “egregious” market manipulation in a 105-page interim order posted on its website Friday. Jane Street, a global quant trading firm, disputed the findings.