Jefferies flags potential hit to Indian derivatives volumes as SEBI bars US trader Jane Street

Jefferies flags potential negative impact on Indian derivative volumes as the local markets regulator bans U.S. trading company Jane Street
The securities regulator last week barred Jane Street from the market, saying a preliminary investigation found evidence it manipulated stock indexes
Jane Street a significant foreign portfolio investor - Jefferies
Brokerage says proprietary and high frequency traders expected to fill some of the volume loss
Jefferies sees limited earnings impact for exchange operator BSE .BSESN; estimates ~1% of BSE’s derivatives turnover linked to Jane Street
Brokerage expects Nuvama NUVA.NS earnings to take a 7%–8% hit as it estimates 15%–20% of the firm's asset services and institutional equities revenues are tied to Jane Street
Derivatives volumes to be closely watched over the next week, especially around index expiries on Tuesday and Thursday - Jefferies