Back away

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Back away

In the context of general equities, to withdraw from a previously declared interest, indication, or transaction; broker-dealer's failure, as a market maker in a given security, to make good on a bid/offer for the minimum quantity.

Back Away

To withdraw from a previously stated intent to conduct a certain transaction. For example, if a broker-dealer expresses an interest in buying shares of Stock X and then changes his/her mind, the broker-dealer is said to back away from the transaction.
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But Lilley rarely backs away from a challenge and by her sophomore year, Estes called her ``the best setter we had.
While Fred will be missed by many as he backs away from day-to-day duties, he will not be far away as he will continue on as a special consultant to Bowhunter Magazine.
2--Color) BACKING DOWN - Senate leader Trent Lott backs away from earlier statements