Investing.com — Jane Street Group has hired lobbyists for the first time in 20 years as the privately-held trading firm increases its presence in Washington while facing regulatory scrutiny in India, Bloomberg reports.
The firm’s top executives have been meeting with lawmakers in what Bloomberg’s sources describe as introductory conversations aimed at explaining Jane Street’s market-making operations. These meetings highlight how the company generates trading revenues that exceed those of many major investment banks, according to people familiar with the discussions.
Meanwhile, the Securities and Exchange Board of India (SEBI) is preparing to conclude an investigation into Jane Street’s trading practices that was first announced in July. The probe is examining additional trading strategies allegedly used by the firm, including what sources claim was manipulation of India’s largest stock index to profit from an options strategy known as a “short straddle.”
The regulatory investigation in India and the company’s new lobbying efforts in Washington represent significant developments for Jane Street, which has traditionally maintained a low public profile despite its substantial presence in global financial markets.
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