Back away

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Back away

In the context of general equities, to withdraw from a previously declared interest, indication, or transaction; broker-dealer's failure, as a market maker in a given security, to make good on a bid/offer for the minimum quantity.

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.
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"That was when I saw the two tyres with the cylinder in the middle so I backed away and a strong explosion happened."
He didn't elaborate on which targets Zurich had backed away from in recent months.
BEIRUT: Lebanon's public transportation sector will hold a nationwide strike Thursday after the government backed away from earlier promises, the head of the union of taxi drivers told The Daily Star Wednesday.
The EUROPEAN Commission yesterday backed away from demanding the closure of key cod fishing grounds in the North Sea, off the west of Scotland and in the Irish Sea.
Gradually they backed away from the legal enforcement of religious beliefs and rules but not because Jesus called for the separation of church and state.
But he also knows that big clubs will have noted that the player he signed from Tranmere for pounds 2.25million 18 months ago, has so far backed away from signing an improved contract.
Citing environmental concerns, a spokesperson from the Ninilchik Native Association told E that the organization "backed away" from the idea of leasing land to Metteer for the pork project.
Paul Pinault, executive director of the Narrangansett Bay Commission and president of the Association of Metropolitan Sewerage Agencies, says the gap was created in large part when the federal government backed away from "its commitment to fund water and wastewater infrastructure." He notes, for example, that the EPA's proposed fiscal year 2004 budget would cut monies for the Clean Water State Revolving Fund Program by nearly $500 million over previous budgets.
BY THE 1950s, Federal Bureau of Narcotics Commissioner Harry Anslinger had backed away from his claim that marijuana turns people into murderers.
PALESTINIAN extremists yesterday vowed to avenge the deaths of two leading militants in a mysterious explosion, but backed away from earlier claims they were killed by an Israeli missile.
McDonald's has since backed away from that statement, with company rep Okamoto saying they have "no plans" at this time for such an intimate tie-up.
In spite of proposed cuts to the education budget, the Bush administration has backed away from an earlier proposal to cut funding for GEAR UP, a program that works with disadvantaged middle school students and encourages them to attend college.