backing away


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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.

backing away

The failure of a market maker to honor a previous bid for a minimum quantity of a security. The National Association of Securities Dealers considers backing away to be unethical.
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Built around a "hidden" order book, Pipeline enables traders at institutions and brokerage firms to anonymously negotiate large blocks of NYSE-listed companies, Nasdaq stocks, and exchange traded funds (ETFs) in an environment free from the problems of backing away and front running.
Tennessee Titans quarterback Steve McNair isn't backing away from comments that he will consider retirement after this season.
Pipeline's book operates without revealing bids or offers, resulting in complete anonymity and without leaking information to the marketplace that can result in front-running, penny jumping, or backing away.
But AVC players and coaches aren't backing away from the challenge.
Eric Clemons, Chief Operating Officer for GTC Telecom commented, "While other large telecom carriers are backing away from offering consumers better value on long distance, GTC Telecom remains stronger than ever in its resolve to give consumers one of the lowest pricing plans in the industry, GTC Telecom's 5 Cent Plan.
The LAUSD board is not backing away from its goal, nor is it aiming low.
But at the same time, we have seen more and more of our competitors backing away from their support of traditional business practices.
By backing away from many of the contentious spending cuts he proposed in January for taxpayer-funded health care and welfare services for the poor, the Republican governor's revised budget - which does not raise taxes - is much more palatable to the Democrat-controlled Legislature.
The insurance companies are backing away from risk in mortgages, real estate and other asset classes, but they are getting aggressive with bonds," said Kevin Gough, Vice President of Conning and author of the study.
The council referred the matter to its Public Safety Committee, backing away from a challenging struggle to muster a two-thirds majority while voters also could face a $3.
The NASD, according to Werblow, has made "substantial improvements" by building an independent internal audit staff reporting directly to the Audit Committee; improving surveillance and examination for compliance with the order handling rules; improving trade reporting through enhanced surveillance, examination, and enforcement procedures; upgrading the ability to enforce the firm-quote rule by developing a process to address backing away complaints during the trading day; and addressing improper actions by Market Makers.
DFG officials are backing away from a previous statement that as many as two hatcheries might have to be closed.