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[hfe_template id='11223'] [ad_1] Sebi is considering a series of tweaks to its derivative trading rules, according to two sources, as it seeks to address risks arising from explosive growth in options trading. The new rules could include higher margins for options contracts and more detailed disclosures, and are being considered after a series of meetings with exchanges, brokers, and fund houses over the past four months, the sources, with direct knowledge of the matter, said. Both sources declined to be identified as they are not authorised to speak to the media. Trading in index and stock options has soared in India in the last few years, fueled mainly by retail investors, sparking warnings from market participants and government officials. The notional value of index options traded more than doubled in 2023-24 to $907.09 trillion from the year before. An unchecked explosion in retail trading of futures and options can create future challenges not just for the market...

[hfe_template id='11223'] [ad_1] A former Jane Street Group trader who moved to Millennium Management ridiculed his former employer’s claims that he used its secret strategy to make a killing at his new job in India’s options market. Responding to a lawsuit filed by Jane Street this month, Douglas Schadewald said it was “not only wrong, but impossible” that he and a fellow defector, Daniel Spottiswood, cost the company more than $150 million in profits between February and March when they went to work for rival Millennium. Labeling Jane Street’s claim as “reckless speculation,” Schadewald said the amount the duo brought in for Millennium through mid-April was about $4 million. In its complaint, Jane Street accused the two of using its “immensely valuable” proprietary strategy in their new jobs. Jane Street said its profits from using the strategy fell by 50% in March, a drop it said could only be attributable to “the entrance of a competitor using the same strategy.” The...