Jane Street plans to contest a finding by India's financial regulator that the U.S. trading firm engaged to manipulate the country's markets, the Financial Times reported on Monday.

Sebi has order a ₹4,844 crore seizure from Jane Street entities, marking the largest action against a foreign firm.

India’s securities regulator plans to boost its surveillance systems to better detect complex trading strategies after taking action against high-speed trading giant Jane Street Group for alleged market manipulation.