Back away(redirected from Backs Away)
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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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved