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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References in classic literature ?
When they borrow a chaw they don't generly cut it off with a knife, but set the plug in between their teeth, and gnaw with their teeth and tug at the plug with their hands till they get it in two; then sometimes the one that owns the tobacco looks mournful at it when it's handed back, and says, sarcastic:
In another and later clinch, when she had already relaxed and sighed her relief at seeing him safely snuggled, Ponta, his chin over Joe's shoulder, lifted his right arm and struck a terrible downward blow on the small of the back. The crowd groaned its apprehension, while Joe quickly locked his opponent's arms to prevent a repetition of the blow.
Tolpec went away with the others, but because of what Tom had done he planned to come back at the first chance and be our guide.
"Fifteen minutes there, fifteen minutes back. He's coming, he'll be here soon." She took out her watch and looked at it.
When I could trust myself to look back at him he was out of his bed, standing erect at the side of it.
He hung back, and she came out alone and paused within a few yards of him.
Fiercely he strove to disengage his weapon, but Hordle John bent his arm slowly back until, with a sharp crack, like a breaking stave, it turned limp in his grasp, and the mace dropped from the nerveless fingers.
If I had kept it locked up in the house, you might have forced the lock when my back was turned.
Intervening trees at that moment shut her from view, and Swiftwater Bill plunged into the problem of disposing of their constable, while Daylight, leaning back with closed eyes, was still seeing Dede Mason gallop off down the country road.
He came back, clawing frantically up the slope that gave him little footing; and he came back, no longer with poorly attempted simulation of ferocity, but impelled by the first flickerings of real ferocity.
Robin took it without more ado and putting it to his lips, tilted his head back, while that which was within said "glug!
He was crying with sheer rage and eagerness as he circled back and forth for a chance to spring in.