The interim order of the Securities and Exchange Board of India against Jane Street represents neither populist grandstanding nor regulatory overreach designed to mollify disgruntled retail investors. Rather, it constitutes a meticulously reasoned, empirically substantiated legal intervention into trading conduct that exhibits every hallmark of market manipulation - a phenomenon that, to invoke the vernacular, looks, walks, and quacks precisely like the proverbial duck.Contrary to the protestations, this adjudication isn’t about penalising perspicacious traders; it’s about preserving the sacrosanct principle of market integrity.
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