cancellation

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Cancellation

A notice by a broker to a client that the broker has made a mistake and has taken steps to rectify it. For example, if a client makes an order to buy 1,000 shares and the broker mistakenly buys 2,000, he/she must sell the extra 1,000 shares and bear any losses himself/herself. Afterwards, the broker must inform the client of what has transpired and provide full documentation. This ensures that the broker simply made a mistake and was not trading maliciously or improperly.

cancellation

A broker's notice to a customer that an erroneous trade credited to the customer has been voided. For example, if a brokerage firm mistakenly purchases 200 shares of stock for an account when the customer has entered an order for only 100 shares, the firm will send the customer a cancellation for the 200-share trade to void the original confirmation and then will send a new confirmation showing the correct trade.
References in periodicals archive ?
The Grand Solmar Cancellation Squad advises travelers to always keep a jacket or coat in their carry-on luggage when traveling in the wintertime as well as their toiletries, medications and a change of clothes in case they are required to stay in a hotel or in the airport overnight.
This policy has virtually wiped out my chronic no-shows and late cancellations, permitting me to take care of patients who truly need my services by freeing up appointments for sick people.
An expansion of the tarmac delay rule to international flights in August 2011 is likely to cause even more passenger harm from cancellations.
Higher insurance premiums are to blame for the cancellation of several Canadian air shows this year.
Trip cancellation insurance covers most emergencies - illness, accident, death in the family, a flat tire and even jury duty.
com advises travelers to include trip cancellation protection in their travel plans during this busy holiday season.
The cancellations could have had a negative impact, but the payment received in consequence of the terminated contracts will favorably affect the Company's results for the Fiscal Year ending March 31, 2002.
Note: Cancellation plans are available at an additional charge for select vendors only.
Travelers are expressing a heightened concern for their personal health and safety, and the increased potential for travel delays and possible trip cancellations.
Accordingly, White Electronic Designs has taken the steps described below to offset the temporary effects of the cancellations, and slowdown in orders at our commercial division.