Finance
Ex-Jane Street Traders Cite Pay Upset in Secrets Countersuit
- Traders say they led growth of India options business for firm
- They left for Millennium after disappointing 2023 compensation
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The two former Jane Street Group traders accused of stealing an Indian options-trading strategy for Millennium Management countersued their old firm, saying they left because they were disappointed in their 2023 pay packages.
Douglas Schadewald and Daniel Spottiswood said in counterclaims filed Tuesday in Manhattan federal court that they led the growth of Indian options trading at Jane Street from a “relatively small operation” at the beginning of the year to a highly profitable business by the end of 2023.