Progress Update - 1 Feb - Stake Global

Progress Update – 1 Feb

Last week, a record volume of shares were traded on the US market and this coming week is expected to be no different.

The team has put outstanding work in, non-stop, through the weekend to ensure we are in the best position for this week’s market sessions. We have made really positive progress which we’ve outlined below.

Before that though, everyone on the team wants to thank our community for the outpour of positive messages we’ve received. It has driven us to work even harder through the late nights and early mornings.

Here are the developments we’ve made:

  • Identified a potential bottleneck related to a high level of logging activity generated by unprecedented activity at market open.
  • Further caching logic to limit the number of requests we are sending to other entities (e.g. our US broker-dealer DriveWealth) whose systems are also under extreme strain.
  • Increase additional server and database capacity to handle more throughput.

We believe this progress is going to put our platform in good stead for Monday’s session and beyond. DriveWealth also believes they’ll be ready for the unprecedented volumes, however expect high levels of latency at the peak period at and just after market open. We’ll provide more information on what you can expect later today.

DriveWealth is still currently supporting all trades, including on $GME and $AMC, meaning these are still available on Stake. Similar to other challenger brokers globally, our relationship with DriveWealth is limited to them being our executing broker in the US. So any changes in availability made by DriveWealth will be felt upstream on Stake.

We hold no opinions on what people choose to trade, however we do care about all of our customers. For those who have traded $GME, $AMC and other highly volatile stocks, or those that may be considering to do so, we have curated some information on the risks for you to be aware of.

Thank you again to our community for all the love. We stand for access and we exist for you.

Thank you,

The Stake Team