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Cancel Former Order

   Also found in: Acronyms 0.01 sec.
cancel former order
A customer order to a broker that cancels and replaces an earlier, unfilled order with a new order. For example, a customer may cancel a former limit order to buy stock at $15 per share and replace it with a market order.
Cancel Former Order
An instruction from an investor to a broker to cancel a previously made order that has not yet been filled. A CFO is are made when an investor changes his/her mind about making a transaction and decides to make a different one or none at all. It is important to issue a CFO, especially when the replacement transaction involves the same security. Otherwise, the broker may fill both orders, perhaps resulting in a loss.


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