India's securities regulator barred U.S. trading company Jane Street from the local securities market, saying an investigation found it manipulated stock indices through positions taken in derivatives.

India has banned the firm from the country’s financial markets and said it would seize around $570 million in profit for allegedly fraudulent trades.

In a dramatic move that’s rattled India’s financial markets, the Securities and Exchange Board of India (SEBI) has banned the global trading giant Jane Street Group from participating in the country’s securities markets.