India has gone from being a small player in the highly speculative equity derivatives market to the world’s largest, all within just five years. Daily turnover in the market now sits at around $3 trillion.

At the heart of the controversy is Jane Street’s aggressive trading in the derivatives (futures) segment, where the firm executed trades designed not just to profit, but to sway the market itself. Here's how.

Sebi imposed a temporary trading ban on the US-based firm and ordered the seizure of Rs 4,840 crore, citing 'an intentional, well-planned and sinister scheme'