Jane Street’s alleged manipulation should not overshadow the fact that there is a lot more to the affair. Besides the US trading firm, NSE also needs to answer questions.
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The headlines are about the scale of the proprietary trading firm’s alleged manipulation when they ought to be about how easily and effectively it engineered profits for itself.
JioBlackRock’s entry into the stockbroking business means the pioneer versus late mover storyline will play out all over again. This time around, though, the challenge will most likely change Zerodha even if the earlier ones did not.
If recent investigations by SEBI into cases of fraud by listed SMEs are any indication, a scam running into lakhs of crores is in the making, putting the entire financial system at risk.