Know Details about Jane street which made Rs 43,289 Cr Profits from Index options
Know about Jane street group which made Rs 43,289 crore profits from index options
Jane Street Group LLC is a global proprietary trading firm in the financial services industry.
Jane Street employs more than 2,600 people in five offices across the United States, Europe, and Asia and trades in 45 countries.
Jane Street Group LLC was established in the year 2000.
Services are provided in the U.S. by Jane Street Capital, LLC and Jane Street Execution Services, LLC, each of which is a
SEC-registered broker dealer and member of Financial Industry Regulatory Authority, USA (“FINRA”).
Regulated activities are undertaken in Europe by Jane Street Financial Limited, an investment firm authorized and regulated by the U.K.
Financial Conduct Authority, and Jane Street Netherlands B.V., an investment firm authorized and regulated by the Netherlands Authority for the Financial Markets
(Autoriteit Financiële Markten), and in Hong Kong by Jane Street Hong Kong Limited, a regulated entity under the Hong Kong Securities and Futures Commission.
Each of these entities is a wholly owned subsidiary of Jane Street Group, LLC.
The Jane Street Group LLC’s associate entities operating in India were initially identified based on the domain (i.e. janestreet.com ) provided at the time of
opening of trading accounts. This domain association adds to the aforesaid conclusion that all the Entities form part of the global operations of the Jane Street Group.
Upon examination of the audited financial statements of JSI Investments Private Limited (Entity No. 1 in this Order), and the related party disclosures contained
therein, it was observed that Jane Street Europe Limited and Jane Street Group, LLC (supra) were disclosed as the holding company and ultimate holding company
of JSI Investments Private Limited, respectively. As per the Memorandum of Association of JSI2 Investments Private Ltd. (Entity No. 2 in this Order), it is wholly owned by JSI Investments Private Limited.
Additionally, Jane Street Singapore Pte. Limited (Entity No. 3 in this Order) was also described in the aforesaid financial statements as a fellow subsidiary of JSI Investments Private Limited, indicating their common control under the Jane Street Group umbrella, along with other affiliated entities.
In a ‘BrokerCheck Report’ of Jane Street Capital LLC (also referred to in the previous paragraph), available on the website of FINRA based on filings by the said broker it discloses itself as a subsidiary of Jane Street
Group LLC. Importantly, it also discloses Jane Street Asia Trading Ltd. (Entity No. 4 in this Order) as being under common control with the LLC and that it is an indirectly wholly owned subsidiary of Jane Street Group LLC
Jane Street Capital, a leading quantitative trading firm, was founded in 1999 or 2000 (sources vary) by Tim Reynolds, Rob Granieri, Marc Gerstein, and Michael Jenkins.
Below is a detailed overview of the founders, ownership, key facts, and a timeline of significant events based on available information.
Founders of Jane Street Capital
Tim Reynolds:
Background: Former trader at Susquehanna International Group (SIG).
A member of the New York Stock Exchange and American Stock Exchange as a specialist and derivatives floor trader.
Became paraplegic due to a car accident in 2000.
Role at Jane Street: Co-founder, instrumental in establishing the firm’s early trading strategies.
Stepped down from active management in 2012 to focus on philanthropy, including the Reynolds Family Spine Laboratory and ÀNI art academies in economically challenged regions.
Current Status: Retired from Jane Street, focusing on art education and luxury resorts.
Rob Granieri:
Background: Former trader at SIG, with a reputation for a low-profile, analytical approach to trading.
Role at Jane Street: Co-founder and the only remaining founder still active at the firm as of 2025.
Described as a “first among equals” in the firm’s flat leadership structure, resembling a collaborative executive.
Notable Event: In June 2025, Granieri was linked to an alleged coup plot in South Sudan, claiming he was duped into funding Peter Biar Ajak for purchasing weapons.
This drew significant media attention.
Current Status: Active at Jane Street, part of the senior leadership group.
Marc Gerstein:
Background: Former trader at SIG, with expertise in options and American Depositary Receipts (ADRs).
Role at Jane Street: Co-founder, contributed to the firm’s early focus on trading options and ADRs on the American Stock Exchange (Amex).
Current Status: Retired from Jane Street, with no specific retirement date provided in sources.
Little public information is available on his post-Jane Street activities.
Michael Jenkins:
Background: Former IBM developer, bringing technical expertise to the founding team, which complemented the trading experience of his co-founders.
Role at Jane Street: Co-founder, likely instrumental in building the firm’s early technological infrastructure, which became a cornerstone of its success.
Current Status:
Retired from Jane Street, with no specific retirement date provided in sources. No further details on his current activities.
Drew Krichman (Disputed):
Some sources list Drew Krichman as a co-founder and Managing Director, but this is inconsistent across references.
Most sources confirm only the four founders above.
Krichman is noted as a key team member, possibly in a senior role, but not definitively a founder
Jane street group Ownership StructureEquity Holders:
Jane Street has no single CEO or traditional hierarchy.
Instead, it is led by approximately 40 equity holders who own $24 billion in equity as of 2024.
These senior executives manage trading desks and business units, with Rob Granieri being a prominent figure.
About 80% of the firm’s capital comes from members’ equity, approximately $21.3 billion in 2023.
Profit Distribution:
Employees are paid based on the firm’s collective profits, not individual or desk-specific gains, fostering a collaborative culture.
Average compensation per employee was around $900,000 in 2023.
No External Investors:
Jane Street operates as a proprietary trading firm, using its own capital rather than managing outside investor funds, which allows it to maintain secrecy and avoid detailed disclosure requirements.
Key Facts About Jane StreetIndustry:
Quantitative trading and market-making, specializing in exchange-traded funds (ETFs), equities, bonds, options, commodities, and cryptocurrencies.
Headquarters: 250 Vesey Street, New York, NY 10281, USA.
Global Presence: Offices in New York, London, Hong Kong, Singapore, Amsterdam, and Chicago. Employs over 2,600 people, with nearly 2,900 as of June 2025.
Trading Volume:
Traded $17 trillion in securities in 2020, holding $50 billion in securities daily as of 2021. In 2023, handled 14% of U.S. ETF trades and 20% of European ETF volumes.
Technology:
Uses OCaml programming language for nearly all software, with a repository of about 70 million lines of code. Emphasizes machine learning and automation.
Revenue:
Generated $10.6 billion in net trading revenue in 2023, with a 78% increase to $8.4 billion in the first half of 2024. Gross revenue in 2023 was $21.9 billion.
Culture:
Flat, collaborative structure described as an “anarchist commune” by the Financial Times. Focuses on risk management, spending $50–75 million annually on put options to hedge against market crashes.
Notable Employees:
Former employees include Sam Bankman-Fried and Caroline Ellison (later of FTX infamy), who worked at Jane Street before their crypto ventures
Timeline of Key EventsAugust 1999 or 2000: Jane Street founded as Henry Capital by Tim Reynolds, Rob Granieri, Marc Gerstein, and Michael Jenkins, initially focusing on options and ADRs on the American Stock Exchange.
2000: Tim Reynolds becomes paraplegic due to a car accident, continues leading the firm until 2012.
Early 2000s: Expands into ETFs, leveraging similarities with ADRs. Becomes an early player in the ETF market, which was then worth $70 billion.
2006: Tim Reynolds co-founds the Reynolds Family Spine Laboratory, a non-profit.
2012: Tim Reynolds steps down from Jane Street to focus on philanthropy, including ÀNI art academies.
2012–2018: Marc Gerstein and Michael Jenkins retire, leaving Rob Granieri as the only active founder.
2020: Trades $17 trillion in securities, including $4 trillion in equities, $1.4 trillion in bonds, and $3.9 trillion in ETFs. Helps maintain ETF liquidity during COVID-19 market turmoil.
2021: Trading capital reaches $15 billion, holding $50 billion in securities daily. Revenue jumps 54% to $10.6 billion during the pandemic.
May 3, 2022: Raises $25 million in a conventional debt round from BlockTower, aiming to increase cash reserves from $4.3 billion to $5.6 billion.
2023: Generates $10.6 billion in net trading revenue and $21.9 billion in gross revenue. Responsible for 14% of U.S. ETF trades and 41% of bond ETF creations/redemptions.
2024: Sues Millennium Management and two former traders for allegedly stealing a lucrative Indian options strategy, costing Jane Street $10 million daily. Net trading revenue reaches $8.4 billion in the first half, up 78% year-over-year. Total assets grow to $140.2 billion
June 2025: Rob Granieri implicated in an alleged South Sudan coup plot, claiming he was misled. SEBI bans Jane Street in India due to alleged unlawful gains.
Secrecy:
Jane Street is notoriously secretive, with minimal public disclosure about its operations or leadership. This opacity is partly due to its proprietary trading model and flat structure.
Legal Issues:
The 2024 lawsuit against Millennium Management and the 2025 South Sudan incident highlight rare public controversies for the firm.
Competitors:
Key rivals include Citadel Securities, Jump Trading, The Motley Fool, Seeking Alpha, and TipRanks.
Jane Street Capital is a quantitative trading firm with its global headquarters in New York City.
Below are the office addresses for Jane Street's global locations, based on available information:
Global Headquarters:New York, NY, USA: 250 Vesey Street, New York, NY 10281
Other Global Offices:London, UK: Devonshire Square, London (exact address not specified in sources, located in London’s historic financial district)
Hong Kong: Chater House, Central, Hong Kong (exact address not specified, located next to Central Station)
Singapore: Next to Raffles Place MRT, Central Business District, Singapore (exact address not specified)
Amsterdam, Netherlands: Specific address not provided in sources, but confirmed as an office location
Chicago, IL, USA: Specific address not provided in sources, but confirmed as an office location
Between January 2023 and March 2025, Jane Street entities made over Rs 43,289 crore in profits from index options, particularly Bank Nifty (BANKNIFTY) using various strategies that allegedly manipulated markets.
These profits were partly offset by losses in other segments like stock futures and cash equity, resulting in a net gain of Rs 36,502 crore.
In a 105-page order, Sebi highlighted two key manipulative strategies — ‘Intraday Index Manipulation Strategy’ and ‘Extended Marking the Close Strategy’.
