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Wall St pre-trade filters
Stake is not a direct participant in U.S. exchanges. All Wall St orders are executed through our U.S. partner, DriveWealth LLC, which operates under the Securities Exchange Act and the trading rules of Nasdaq and NYSE, as overseen by the SEC and the exchanges themselves.
Every order placed on Stake is subject to pre-trade checks by both Stake and DriveWealth to ensure fair and orderly trading.
What is reviewed before an order is placed?
DriveWealth and Stake assess several factors before accepting or executing your order, including:
The size and type of the order
Terms and conditions applied to the order
Current market conditions and demand
Recent trading activity of the security
Trade value (volume and price)
Frequency of order submissions
The potential for market impact from execution
Orders may be rejected if they are seen to violate regulatory standards or raise concerns about market manipulation.
Reasons a pre-trade filter may be triggered
It’s placed too far from the current market price
The security is subject to a market-wide trading halt
The volume or price significantly deviates from recent trading history
Additional orders are entered for the same security at similar prices
The order is placed right after market open or during the closing auction
The security has been suspended, delisted or affected by a corporate action (e.g. merger, stock split)
DriveWealth can also cancel or amend transactions as part of maintaining market integrity. If this happens, any benefits or entitlements from the cancelled transaction will be lost.
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