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US-based proprietary trading firm Jane Street recently sued rival Millennium Management and two ex-employees for allegedly stealing a lucrative business strategy. Options trading in India lies at the heart of the issue.

A market dominated by speculative activity is enriching sophisticated traders at the expense of retail investors, distorting exchanges and brokerages, and putting household savings at risk.
Thinly traded listed entities have long served as breeding grounds for stock manipulation, hurting investors. The regulator, the NSE and BSE now want to fix things by focusing on efficient delisting.
A month on, CAS has only amplified volatility, manipulation and confusion rather than containing them.