Jane Street loses bid for restraining order against Millennium
https://www.ft.com/content/f83e9cdf-fe15-4724-b412-7c1184aed880
Summary:
• Strategy was focused on options market in India.
• Judge said Jane Street has not demonstrated irreparable harm. “Jane Street has certainly identified smoke, but it has not established a fire,” [Judge] Engelmayer said during a court hearing.”
• Jane Street sought to get the hearing closed from the public and press but the judge declined to do so, calling the request “borderline frivolous”.
• “Attorneys for Millennium and the two traders argued that the hit to Jane Street’s profits appeared to result from outside factors such as decreased volatility and fewer trading days.”
• A trial is set for the week of July 15.
