Backs Away financial definition of Backs Away
Back away (redirected from Backs Away)
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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.
References in periodicals archive
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