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cancellation
(redirected from cancelation)

    Also found in: Dictionary/thesaurus, Legal 0.04 sec.
Cancellation
A notice informing a customer of the cancellation of an erroneous trade that has been credited to his or her account by the broker.

Notes:
Even stock brokers are subject to human error. When an error is made, set guidelines must be followed to rectify the situation.

For example, if a broker mistakenly over-purchases 100 shares of Cory's Tequila Corporation for your account, he or she must sell the 100 shares and bear any losses in his or her internal account. Each transaction is properly recorded and you will be sent statements showing the changes to your account. The procedure is done to ensure that the broker is not improperly trading for your account.

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.
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But there were many calling for a lot more because of the havoc the cancelation wreaked on the sport, promoters and casinos (Caesars Palace and Wynn), as well as visitors to the city of Las Vegas who had driven across the desert or flown across the country to see Castillo-Corrales III.
IS `LIGHTS OUT' OUT OF SHAPE? by Daily News (Los Angeles, CA)
New York Theater's shocking cancelation of "My Name is Rachel Corrie" is not the first time a brave voice was silenced--but let's make sure it's the last.
Rachel Corrie: will Americans get to hear the voice of an American ... by Hanley, Delinda C. / Washington Report on Middle East Affairs
The theater, owned by Utah Jazz owner Larry Miller; declined to give a reason for the cancelation.
Casanova, Hostel, Grandma's Boy by The Advocate (The national gay & lesbian newsmagazine)
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