India bars two entities over derivatives manipulation
India's market regulator barred two entities for alleged cross segment price manipulation using stock derivatives. The firms generated illegal gains of 281 million rupees through sophisticated options and futures strategies.
India's market watchdog barred two trading firms on Wednesday afternoon over an alleged cross-segment derivatives manipulation scheme yielding 281 million rupees ($2.93 million). The Securities and Exchange Board of India ordered the immediate impounding of alleged wrongful gains. The enforcement action targets sophisticated cross-market trading strategies involving stock options and futures.
