Sebi’s 100-page interim order authored by whole-time member Ananth Narayan G. offers a look into the inner workings of the US-based trading firm’s strategy, and how Jane Street allegedly distorted the Bank Nifty and Nifty 50 to profit from options trades.

India's markets regulator has widened its probe into alleged market manipulation by U.S. securities trading firm Jane Street to include other exchanges and indices, according to a source, after barring it from trading in the Indian markets earlier on Friday.

The Securities and Exchange Board of India (SEBI) has imposed a ban on Jane Street Group and its affiliated entities, prohibiting them from participating in the Indian securities market due to alleged large-scale market manipulation. SEBI’s investigation ...