F&O Trading Volumes See 8-Month High in July, Despite Ban on Jane Street

As per news reports, Indian equity derivatives markets experienced remarkable growth in July 2025, with futures and options (F&O) volumes hitting an 8-month peak. Combined average daily trading volume reached ₹381 trillion despite regulatory action against major high-frequency trading firm Jane Street.

F&O Volume Hits 8-Month High at ₹381 Trillion in July

Combined ADTV for both exchanges reached ₹381 trillion in July, marking a 10% month-on-month increase and the highest level since November 2024. According to the report, volume surge came primarily from retail and proprietary traders rather than high-frequency trading firms, indicating a fundamental market behaviour shift.

F&O Volumes Surge Despite Jane Street Ban

The surge occurred even as regulators imposed a ban on Jane Street, a US-based high-frequency trader that had been a major liquidity provider. While volumes remain below the September 2024 peak of ₹537 trillion, July figures show the derivatives market is regaining momentum after regulatory changes.

Read More: UPI Transactions in July 2025 Cross ₹25 Trillion; Volume Rises 6%!

Contrasting Performance Between Derivatives and Cash Segments

While derivatives volumes surged, the cash segment struggled with combined ADTV dropping 15% to ₹1.02 trillion. Major indices posted negative returns with Nifty and Sensex declining 3% each, Nifty Smallcap 100 falling 6.7%, and Nifty Midcap 100 dropping 4%.

Conclusion

Indian derivatives markets' surge to ₹381 trillion ADTV in July 2025 demonstrates remarkable resilience despite the Jane Street ban. The 8-month high reflects strong retail participation and market adaptation, whilst contrasting a 15% decline in cash segment volumes highlights divergent performance across trading segments in India's evolving equity markets landscape.

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