Whether arbitrage or manipulation, the Jane Street episode highlights a critical truth: markets need more transparency, more accountability, and more human judgment.

Jane Street has been barred from the Indian securities market by its markets regulator, which has said the U.S. firm used its trading strategies to "manipulate" a key stock market index, leading to losses for millions of retail investors,

India’s fear gauge has slid to its lowest in nearly a year, signaling that concerns over a regulatory probe into Jane Street’s trades and delays in a US trade deal are unlikely to hurt broader equity market sentiment.