cancellation

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Cancellation

A notice by a broker to a client that the broker has made a mistake and has taken steps to rectify it. For example, if a client makes an order to buy 1,000 shares and the broker mistakenly buys 2,000, he/she must sell the extra 1,000 shares and bear any losses himself/herself. Afterwards, the broker must inform the client of what has transpired and provide full documentation. This ensures that the broker simply made a mistake and was not trading maliciously or improperly.

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.
References in periodicals archive ?
Inclement weather, which is the number one reason for airline flight cancellations and delays; after all, who wants to be flying through a major thunderstorm?
"We have revised our flight cancellation and change fee effective midnight today.
In fact, we called for a meeting last Monday, not only with Grab but with all the other accredited TNCs and we discussed about the cancellation fee," Delgra said.
To eliminate excessive cancellations that affect the ride-sharing experience for both drivers and passengers, Grab has put in place a number of initiatives and policies to discourage cancellations on both sides.
Meanwhile, passenger's accounts could be suspended for 24 hours should they cancel a ride twice in an hour, thrice in a day or a total of five cancellations in a week, Grab said.
Jeremy Bowen, CEO of Cirium, said: "Flight delays and cancellations are an unfortunate aspect of modern air travel and can have a big impact on travellers, whether flying for business or leisure.
Southwest Airlines said Monday that it's handling an average of 130 cancellations a day out of more than 4,000 flights.
But Labour whip Mark Tami (Alyn and Deeside) said the cancellation of the Wylfa project was a "massive setback" for the north Wales economy and accused Mr Cairns of having a "record of unmitigated failure" and a "reverse Midas touch".
But Labour whip Mark Tami (Alyn and Deeside) said the cancellation of the Wylfa project was a "massive setback" for Anglesey and "the whole of the North Wales economy".
Last minute cancellations are those that take place on the day the operation is scheduled, including after the patient has arrived at hospital.
Freedom of information requests also revealed the Queen Elizabeth Hospital, run by the same trust, had 1,588 cancellations, an increase of 13 per cent.
What you Write to: M.E.N, House, Oldham, Or email: @men-The most common reason for operations to be cancelled was due to theatre lists over-running or a lack of time to operate on all listed patients in a session, with 2,528 cancellations for this reason in 2017/18.