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 ?
The median rate of test cancellations for participants in this study was 6.
This study was designed to find out frequency and reasons for cancellations of elective surgical cases in 25 hospitals in Makkah region, KSA, with a view to recommend suggestions for improvement.
The total number of cancelled cases, the department wise cancellations and the reasons for cancellation were expressed in proportions.
This reason for cancellation was particularly significant in breast surgery, accounting for 24% of all cancellations made within that speciality.
According to GEICO, which named Travelers as a proposed additional respondent, the notice of cancellation was ineffective, as Capitol failed to advise Montoya that he had a right to have the NYAIP's "Governing Committee" review the cancellation of the insurance policy.
Reasons for cancellations, in order of importance: buyer could not sell an existing home (45 percent); buyer could not qualify for a loan (33 percent); buyer decided not to purchase a home (33 percent); change in family circumstances 08 percent); and change in employment (15 percent).
This policy has virtually wiped out my chronic no-shows and late cancellations, permitting me to take care of patients who truly need my services by freeing up appointments for sick people.
On similar operational levels, cancellations the first year under the rule increased 18%.
Event cancellation policies, which protect against the cancellation, postponement, rescheduling or abandonment of an event, often go hand-in-hand with spectator liability coverages.
Impromptu visitors can claim a small but growing number of weekday parking cancellations, which guarantee entry to the museum.