Jane Street has told staff it will contest a ban by India's financial regulator which has accused the U.S. high-frequency trading giant of market manipulation, adding that its practices in question were "basic index arbitrage trading".

Jane Street Fights Back as SEBI Alleges $564 Million Index Manipulation in India - SEBI barred Jane Street from Indian markets and ordered seizure of Rs 48.4 crore ($564 million)

In an internal memo to its 3,000 employees, Jane Street’s senior management expressed being “beyond disappointed” by SEBI’s accusations and said it was “working on a formal response.”