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 has barred one of the world's largest quant trading firms, Jane Street, from accessing its securities market after an investigation found it made "unlawful gains", taking the most stringent action ever against a foreign trading firm.

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.