On days with huge volatility, all systems, from the exchange down to the broker, are operating at very high loads and as such, the end user may experience some issues. Since we have a very high number of active clients, all concurrently on the system, this effect seems more prominent. That said, I understand the concern that you guys have about such events. Our tech team has been working day in and day out to make the Kite backend infra a lot more scalable and I’m glad to say they’ve made a lot of progress in this direction. In fact, they’ve upgraded about 80% of it already and so the system is that much more scalable. We’re hoping to be able to cater to 10 times the number of active users as compared to right now even on days with high volatility without any hiccups.
The back office may show values that don’t add up sometimes. This mainly happens when we’re running the trade process. Admittedly, this shouldn’t be the case, but since the current system is a vendor-based product, there are a few issues. Over the last one year, we’ve been working on a whole new architecture from scratch to ensure more accurate reporting by moving everything in-house. In fact, we are on the cusp of taking this new system live; we are only running tests to make sure everything works as expected.
If you’re seeing values that you feel are incorrect in the meanwhile, please let us know, and we’ll have it set right for you.
As for trust, as a business, we’ve enjoyed a really good response and support from our client base and so have been able to make profits consistently YoY, so any fears of fraudulent activity can be laid to rest. The back-office is merely a reporting tool, and even if you see numbers that don’t add up, please keep in mind that this isn’t an actual statement of your account. Being in a space that is quite highly regulated, we do maintain very