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On Order Execution

Through the past week, hundreds of thousands of orders have been successfully executed through Stake. However, many have experienced some disruptions.

On Order Execution

Through the past week, hundreds of thousands of orders have been successfully executed through Stake. However, many have experienced some disruptions.

Delays in Order Confirmation

With a number of successfully executed orders, there have still been cases where the confirmation emails and displays on the platform have been delayed. This is due to volumes causing delays of Stake receiving these confirmations from partners in the US. Please read more about how the trading ecosystem works here.

It’s important to note that order has been executed as per your instructions, even in cases there was a delay in the confirmations.

Clarity Around Trading Halts

With an uptick in volatility surrounding names like GameStop ($GME) and AMC Entertainment ($AMC), several exchange-mandated trading halts have been placed on such stocks.

$GME alone has been halted on 23 individual occasions since Wednesday’s session (27/1); all volatility trading pauses. Volatility trading pauses are enforced by the exchange when a stock trades across specific ranges.

In the case of $GME and $AMC:

  • a 20% movement inside the first 15 minutes or last 25 minutes of the session.
  • a 10% movement between these times.

Each halt lasts for 5 minutes. More information can be found here.

What Happens to Order During Halts

An order placed before a trading halt will be held and executed once trading recommences.

An order for a full share placed during a trading halt will be executed once trading recommences. Orders for fractional shares will be rejected by the exchange and need to be placed again once trading recommences. Some customers may have experienced this with market orders over the past several days.

We hope this information was helpful.

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Stakeshop Pty Ltd, trading as Stake, ACN 610105505, is an authorised representative (Authorised Representative No. 1241398) of Sanlam Private Wealth Pty Ltd (Australian Financial Services Licence No. 337927) ('Sanlam') and an authorised representative (Authorised Representative No. 1241398) of Airwallex Pty Ltd (Australian Financial Services Licence No. 487221) ('Airwallex'). Stake is not authorised by Airwallex under Airwallex’s AFSL to arrange for clients to be issued with securities as Airwallex is not authorised under its AFSL for this purpose. Stake is not authorised by Sanlam under Sanlam’s AFSL to arrange for clients to be issued with a non-cash payment facility as Sanlam is not authorised under its AFSL for this purpose. Stake SMSF Pty Ltd (‘Stake Super’) is not licensed to provide financial product advice under the Corporations Act. This specifically applies to any financial products which are established if you instruct Stake Super to set up a self managed super fund (‘SMSF’). When you sign up to Stake Super, you are contracting with Stake SMSF Pty Ltd who will assist in the establishment of a SMSF under a ‘no advice model’. You will also be referred to Stakeshop Pty Ltd to enable your trading account and bank account to be set up in order to use the Stake Website and/or App. Stakeshop Pty Ltd will also run marketing and promotions to you under. For more information about SMSFs, see our SMSF Risks page.The information on our website or our mobile application is not intended to be an inducement, offer or solicitation to anyone in any jurisdiction in which Stake is not regulated or able to market its services. At Stake and Stake Super, we’re focused on giving you a better investing experience but we don’t take into account your personal objectives, circumstances or financial needs. Any advice given by Stake is of a general nature only. As investments carry risk, before making any investment decision, please consider if it’s right for you and seek appropriate taxation and legal advice. Please view our Financial Services GuideTerms & ConditionsPrivacy Policy and Disclaimers  before deciding to invest on or use Stake or Stake Super. By using our website or service in any way, you agree to our Privacy Policy and Terms & Conditions. All financial products involve risk and you should ensure you understand the risks involved as certain financial products may not be suitable to everyone. Past performance of any product described on this website is not a reliable indication of future performance. Stake and Stake Super are registered trademarks in Australia.

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