Charles Pennywalker

[Charles Pennywalker @CPennywalker]

@RenukaJain6 If BJP loses this time it will be because of the education minister, Nitin Gadkari, and Nirmala Sitharaman.

Narendra Modi's wave and BJP's next term is at huge risk as long as his cabinet keeps screwing up.

[Charles Pennywalker @CPennywalker]

Retail traders don't have much clue about this. For this reason, they are hailing SEBI's move. It's easier for SEBI to get through anything they want exploiting the very lack of knowledge that has always crippled Retail traders to cripple them further!

Before this "Uninvited Messiah Framework" Retail traders could actually have placed more orders per second without compliance overheads of static IP, and the bureaucracy of getting their algorithm registered upon crossing 10 OPS! Unko yeh sab nahi samajhta Keshav Bhai! They literally are thinking ki "woah! ab hum bhi institutions ki tarah algo trade kar payenge LOL". I'm like "tum pehle zyadar behtar karr paa rahe hote".

Samajh yeh nahi aa raha ki bik kaun gaya hai yaha pe? Which stakeholder in the public capital market ecosystem has gone CORRUPT? Or it's just blatant over-regulation by a brainless flock of "so called regulators" who required an external whistleblower to get their attention towards a giant US hedge fund manipulating the BANKNIFTY and NIFTY50 indices.

We're regulated by the most INCOMPETENT and/or CORRPUT bunch of brainless people!

[Charles Pennywalker @CPennywalker]

@kkarunakar If SEBI want what can Zerodha do? Or we never know they might get benefitted from their Algo product business vertical!

[Charles Pennywalker @CPennywalker]

@traderviews24 @SarangSood So Blatant LIE! Our Retail Traders are so damn ignorant that they just take it as gospel!

WTF!

[Charles Pennywalker @CPennywalker]

How ignorant of you all like so sad to see the ignorance in Retail folks!

I'll give you an example... Dhan ke API se you could've placed 25 orders per second, 250 per minute, without any compliance overheads or being indiscreet before this bullsh*t framework. Now guess what 10 OPS limit. Post 10 OPS you have to get it approved! You need static IP! How is this empowerment?

Institutions be like: Thank you SEBI, chut*ye ab aur kamzor ho gaye hain!

[Charles Pennywalker @CPennywalker]

@vmittal @SarangSood Actually SEBI ki itni aukaat hai hi nahi, naa kabhi thi. Bade players ke DALAAL hain yeh!

[Charles Pennywalker @CPennywalker]

@ApexPTrader @SarangSood Exactly!

[Charles Pennywalker @CPennywalker]

Exactly! The fun part is people blindly assuming SEBI is their messiah! I want to ask them all: Did API's not exist before this? You actually could've placed more orders per second before this "Uninvited Messiah Framework". How is that empowerment for Retail? By increasing compliance? Limiting orders? Assuming that it's the Retail who can mess with market? Seriously?

And our GENIUS Retail Traders are like "Waah Waah SEBI Ji!". I'm like "kaala akshar bhains barabar". Jab Retail traders clueless ho toh kuch bhi chipka do sab absorb kar lenge.

[Charles Pennywalker @CPennywalker]

#2: A level-playing field? Seriously? Did APIs not exist before this bulls**t from SEBI? You're going to be on a level playing field by staying within 10 OPS LOL against entities that manage billions of dollars? And if you (by yourself) try to enter the genius realm by exceeding 10 OPS you're required to register your Algo?

Algo gets a tag ok now what? Would they start generating more profits all of a sudden? Level playing field LOL.

Brainless bureaucracy is what we call it by people who don't understand capital markets!

Harr waqt cheezo ko badalna nahi hota hai.

[Charles Pennywalker @CPennywalker]

@AnandBhuta @Nithin0dha I'm finding it bizarre how retail traders are not understanding this nuance!

[Charles Pennywalker @CPennywalker]

@avi_katyura @Nithin0dha Absolutely! This is so f***ed up from SEBI.

[Charles Pennywalker @CPennywalker]

Why does SEBI hate retail traders so much?

Jane Street manipulated Bank Nifty and Nifty 50 for over 2 years. Made ₹36,500 crore. Moved 25% of daily volume in individual stocks.

Whereas Retail, on the other side of those trades, was losing, every single expiry day!

Did SEBI's surveillance systems catch this? No! Infact, a US court case did. In April 2024, Jane Street sued its rival Millennium Partners for stealing the very strategy being used to extract billions from Indian markets. That lawsuit is how the world found out. A whistleblower named Mayank Bansal then presented evidence to SEBI directly.

SEBI's response? Tell NSE to look into it. NSE took four months to submit a report. SEBI noted "abnormal volatility" in December 2024. Then in February 2025, SEBI's internal team finally found prima facie evidence of fraud.

Did SEBI act? No. SEBI told NSE to send a caution letter. NSE sent it on February 6.

What else happened on February 4, 2025? SEBI published the "retail algo trading circular". Static IPs. Strategy registration. Orders per second caps.

Jane Street ignored NSE's letter. Kept trading. SEBI watched.

SEBI finally acted in July 2025. Then quietly lifted restrictions within three weeks after Jane Street deposited the money. Not as a penalty. Not as an admission of guilt. Just a technical compliance to get back in.

29 months of patience for a firm rigging the index. But April 1, 2026? Every retail trader's API orders get rejected if their static IP isn't registered. Strategy disclosure and 10 OPS limits for a solo trader running a Python script?

Where do retail traders register their algo strategies under this framework?
With NSE. Through their broker.

The same NSE that took four months to submit its investigation report on Jane Street. The same NSE that sent a "caution letter" instead of halting the manipulation. The same NSE whose advisory was ignored for five months while retail traders bled on the other side. The same NSE whose surveillance couldn't detect a firm doing 25% of daily volume on expiry days until a US court case spelled it out for them.

That's who now holds your strategy details. That's who decides if your logic change needs re-approval. That's who you're supposed to trust with your edge.

9 out of 10 retail F&O traders lose money. SEBI's own data. ₹1.05 lakh crore in net losses in FY25 alone. The money didn't disappear. It transferred to institutional accounts, to firms like Jane Street with co-located servers and DMA access.

The 1 in 10 who survives doesn't do it with capital. They can't outspend a firm with $565 million frozen in a single enforcement action. They survive with strategy. Code they wrote, logic they tested, edge they earned.

SEBI's framework targets that edge. Not the institutions extracting billions. Not the DMA traders with zero compliance burden under this circular. The solo developer. The self-taught quant. The retail trader who figured out how to win despite everything being stacked against them.

India already had enough "Wealth Disparity". Thank you SEBI for creating "Information Disparity" and choking the winning Retail traders of their very last bit of edge in the market. They could've carried on better without your "Uninvited Messiah Framework" masquerading as a "help".

No other major market in the world puts this compliance burden on individual retail traders. Not the US. Not the EU. Only India.

With regulators like these, India's retail traders don't need enemies. Indigestible, but true.

Disappointed!

@SEBI_updates @NSEIndia @BSEIndia @FinMinIndia @PMOIndia @ETMarkets