backing away

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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.

backing away

The failure of a market maker to honor a previous bid for a minimum quantity of a security. The National Association of Securities Dealers considers backing away to be unethical.

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References in periodicals archive ?

I don't find it any harder to shoot to 12 o'clock while my body is moving to 3 or 9 o'clock, than to shoot in the same direction while backing away toward 6 o'clock.

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Arnold Schwarzenegger's dramatic plans for fiscal and political reform, backing away from earlier assertions that his proposals were virtually dead on arrival.

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Tennessee Titans quarterback Steve McNair isn't backing away from comments that he will consider retirement after this season.

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But AVC players and coaches aren't backing away from the challenge.

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The LAUSD board is not backing away from its goal, nor is it aiming low.

SCHOOL DISTRICT STILL AIMING FOR THE TOP BOARD OF EDUCATION MEMBERS NOW REVISING - NOT RETREATING FROM GOALS

By backing away from many of the contentious spending cuts he proposed in January for taxpayer-funded health care and welfare services for the poor, the Republican governor's revised budget - which does not raise taxes - is much more palatable to the Democrat-controlled Legislature.