Jane Street Ordered to Detail Secret India Trading Strategy (1)

Jane Street Group was ordered to detail the secret Indian options strategy it alleges two former traders took to their new jobs at Millennium Management to the Manhattan federal judge overseeing the case.

At a Thursday conference, US District Judge Paul Engelmayer gave Jane Street a hard May 23 deadline to provide him with specifics about the trade secrets it alleges were stolen. Millennium and the two ex-traders, Douglas Schadewald and Daniel Spottiswood, have argued that there was nothing secret at issue in the case and accused Jane Street of bringing vague claims in “bad faith.”

Engelmayer clearly indicated ...