> SEBI said that the “intensity and sheer scale” of their intervention, and the rapid reversal of their trades “without any plausible economic rationale, other

> SEBI said that the “intensity and sheer scale” of their intervention, and the rapid reversal of their trades “without any plausible economic rationale, other than the concurrent activity in and impact on their positions in the BANKNIFTY index options markets,” was manipulative. > "without any plausible economic rationale..." I had a bit of a laugh at this. I thought the rationale was to fuck the counterparties as hard as possible? It would seem like Jane Street being allowed to operate in this market is like bringing an anti-material rifle to a pillow fight.