Cancel

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Cancel

To void an order to buy or sell from (1) the floor, or (2) the trader/salesperson's scope. In Autex, the indication still remains on record as having once been placed unless it is expunged.

Cancel Order

An instruction from an investor to a broker to cancel a previously made order that has not yet been filled. Cancel orders 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 cancel order, especially when the replacement transaction involves the same security. Otherwise, the broker may fill both orders, perhaps resulting in a loss.
References in periodicals archive ?
In many cases, a single loan with cancelable PrivateMI will cost less over the life of the loan than an 80-10-10.
The policy is not cancelable except in the event of nonpayment of premiums.
Prices are based upon the date promised on J&L's order acknowledgement and orders are non cancelable once confirmed.