Order cancellations & rejections

Why was my Stake AUS order cancelled or rejected?

In some circumstances, you may be unable to place an order on Stake, or your order may be cancelled/rejected after you place it.

Cancelled/rejected orders

ASX investors are bound by the ASX & Cboe Operating Rules and the ASIC Market Integrity Rules. If there is suspected market manipulation, insider trading or other suspicious activity detected that conflicts with regulations, these orders will be rejected.

Other reasons may include:

• The order price is too far from the last traded price (read more about the Anomalous Order Threshold here)
• The security has been suspended, delisted, or reconstructed
• A market-wide trading halt is impeding available market data for a security
• The security has turned ex-entitlement or ex-dividend
• You have insufficient buying power, or have active orders impacting your buying power
• A first-time buy order of a security that is less than A$500 (Minimum Marketable Parcel)
• The order has simply expired
• ASX market rules and regulations
• At discretion of the ASX or Market Participant 

Corporate Actions

Outside of the common reasons for cancelled/rejected orders, a corporate action event may also impact your ability to trade a particular security.

These corporate actions could include the security being subject to a stock split, merger or acquisition. Alternatively, the underlying price may have moved significantly, which may also render your order invalid. You can learn more about corporate actions here.

What happens if a stock I own gets delisted?

In some situations, you may hold a security that has been voluntarily or involuntarily delisted from an exchange and is no longer available to trade. 

Delisting a security could be the result of:

• The underlying company ceasing operations/declaring bankruptcy 
• A corporate action such as a takeover or merger
• A company transitioning to private ownership
• A company failing to meet listing requirements on an exchange 

You can monitor announcements from the companies you have in your portfolio from the Stake app or by looking them up on the ASX announcements page. After delisting, you can search for delisted companies on delisted.com.au.

Depending on the situation and the terms of agreement, you may be entitled to a final distribution, representing some value recouped as a result of delisting proceedings. 

If a security is already delisted it is best to reach out directly to the share registry for advice on how to proceed. If you have urgent questions about a delisting announcement you can reach out to the Stake support team here.

Are there any trade limits on Stake AUS?

Yes, there is a A$250,000 trade limit for buy and sell orders on Stake AUS.  

Why was my Stake Wall St order cancelled or rejected?

In some circumstances, you may be unable to place an order on Stake, or your order may be cancelled or rejected after you place it. 

Cancelled or rejected orders 

Here are some common reasons orders might be cancelled or rejected: 

• A market-wide trading halt results in missing market data for a security. 
• The security you’re trying to sell has been delisted.  
• A limit order price is deemed too aggressive. Our U.S. partner has measures in place to identify orders that are unrealistic and unreasonable in the context of what price a security is currently trading at. Therefore, your order may be cancelled if the price of the security is significantly different to the limit price you've set. 

Corporate Actions 

Outside of the common reasons for cancelled orders, corporate action related to a particular security may also impact your ability to trade it. 

These corporate actions could include the security being subject to a stock split or takeover. The underlying price may have moved significantly, which may render your order invalid.

Stake must act in accordance to the U.S. market rules in these scenarios which may result in the cancellation of an order.   

Invalid orders 

You’ll be unable to place an order on Stake under the following conditions:  

• You have insufficient funds/buying power or have pending orders that are impacting your buying power. 
• You don’t have sufficient holdings to place a sell order.  
• You’re trying to place a limit order for a fractional amount of stock. Limit orders can only be created/executed for whole units of stock, e.g. if you hold 2.5 shares of $TSLA, you can only create a sell limit order for two $TSLA shares – the remaining 0.5 can only be sold via market order.  
• You’re pricing a buy stop or sell stop order less than $0.05 above or below the current market price. 
• Your order is under the minimum size of US$10. 

If your order won’t go through or has been cancelled/rejected and none of the above explains it, please reach out to our customer support team and we’ll investigate this for you.

What happens if a security I own gets delisted?

In some situations, you may hold a security that has been voluntarily or involuntarily delisted from an exchange and is no longer available to trade. 

Delisting a security could be the result of:

• The underlying company ceasing operations/declaring bankruptcy 
• A corporate action such as a takeover or merger
• A company transitioning to a private ownership
• A company failing to meet listing requirements on an exchange 

If your position has been delisted, your sell orders may be rejected. In some cases the security may have moved to the OTC Markets.

Nasdaq publishes a list of Issuers that are pending delisting or suspension. This can be viewed here.

If you own delisted securities and would like to know your options for selling these shares where possible, you can reach out to our customer support team here.