和 Shruti Mahajan Jane Street Group LLC 表示，由于这家华尔街交易巨头需要维护其全球声誉，因此没有动机拖延印度监管机构对其涉嫌市场操纵的调查。
Street Group LLC said it has no incentive to delay the Indian regulator’s investigation into alleged market manipulation as the Wall Street trading giant has to protect its reputation globally.
代表 Jane Street 的律师 Darius Khambata 周四在当地法院表示，该公司已经缴纳了 484 亿卢比（5 亿美元）的罚款，并且目前在该国没有开展交易。随着双方口头辩论结束，他表示拖延调查“毫无道理”，并驳斥了监管机构关于其阻碍调查的指控。
The firm has already deposited a fine of 48.4 billion rupees ($500 million) and is not trading in the country, Darius Khambata, a lawyer representing Jane Street, told a local court Thursday as both parties concluded their oral arguments. It “doesn’t make sense” to delay, he said, rejecting the regulator’s accusation of stalling the probe.
Khambata 称，在印度证券交易委员会（SEBI）开始调查之前，Jane Street 已经向其说明了符合全球惯例的印度交易策略。
Khambata said Jane Street had explained its India trading strategies, which align with global practices, to the Securities and Exchange Board of India before it began its investigation.
这场争议已引起全球关注，因为其结果可能会影响交易公司如何看待在世界上最大的衍生品市场之一开展业务的风险。
The dispute has attracted global attention as the outcome may shape how trading firms view the risks of operating in one of the world’s largest derivatives markets.
在 2025 年 7 月发布的临时裁决中，SEBI 以 Jane Street 涉嫌通过影响 NSE Nifty Bank Index 中股票的价格，从而从期权市场头寸中牟利为由，暂时禁止该公司运营。该监管机构还下令没收价值 484 亿卢比的所谓非法所得。
In its July 2025 interim order, SEBI temporarily banned Jane Street for allegedly influencing prices of stocks on the NSE Nifty Bank Index to profit from its positions in the options market. The regulator also ordered the seizure of 48.4 billion rupees worth of alleged unlawful gains.
SEBI 称，Jane Street 要求提供更多细节的上诉只是拖延策略。这家华尔街交易公司声称，在裁决下达前并未获得为自己辩护的机会。该公司否认任何不当行为，并向证券上诉法庭提出上诉，要求提供额外文件。Khambata 表示，这些文件有可能洗清该公司的嫌疑。
SEBI Says Jane Street’s Appeal for More Details a Delaying Ploy The Wall Street trader, which says it wasn’t given a chance to defend itself before the order, denied any wrongdoing and appealed in the Securities Appellate Tribunal seeking additional documents. These documents could potentially exonerate the firm, Khambata said.
Jane Street 已要求获取 SEBI 审查的所有股票的订单记录，并主张这些记录可以揭示该公司是在执行现有的买卖交易，还是通过创造新的需求来影响价格。
Jane Street has sought order logs for all stocks reviewed by SEBI, arguing that these could reveal whether Jane Street was fulfilling existing sell or buy trades or affecting prices by creating fresh demand.
而监管机构则辩称，其仅需要提供其作出临时裁决时所依据的实际交易记录。
The regulator argued it is only bound to provide records of actual trades that it relied upon to pass its interim order.
印度监管机构敦促Jane Street作出回应，此前Data Khambata还声称，元数据显示该监管机构歪曲了某些文件的日期，但印度证券交易委员会（SEBI）否认了这一指控。
India Regulator Presses Jane Street to Respond After Data Khambata also alleged the metadata showed that the regulator had misrepresented dates of certain documents, an accusation that SEBI denied.
双方必须在10月21日前提交书面论点，之后法院将开始审议判决。
Both parties have to file written arguments by Oct. 21 before the court starts deliberating on its judgment.