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 classic literature ?
If he can find me another tenant, whom I consider suitable, I may cancel the agreement.
To cancel old wills, and invent new ones, is at last the sole business of such a testator's existence; and relations and friends (some of whom have been bred up distinctly to inherit a large share of the property, and have been, from their cradles, specially disqualified from devoting themselves to any useful pursuit, on that account) are so often and so unexpectedly and summarily cut off, and reinstated, and cut off again, that the whole family, down to the remotest cousin, is kept in a perpetual fever.
Indeed,' said she, 'if I could altogether cancel the remembrance that Mr.
Touch me with a finger, touch me with an epithet, question my superiority as I sit here drinking my wine at my pleasure,' said Rigaud, 'and I follow the letter and cancel my week's grace.
And so all my endeavours to cancel the past and to raise myself in the world, and to raise you with me, are to be beaten down by YOUR low whims; are they?
Iberia accuses pilots of 'aberrant' demands, cancels 220 flights.