cancel order


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Cancel Order

An instruction from an investor to a broker to cancel a previously made order that has not yet been filled. Cancel orders are made when an investor changes his/her mind about making a transaction and decides to make a different one or none at all. It is important to issue a cancel order, especially when the replacement transaction involves the same security. Otherwise, the broker may fill both orders, perhaps resulting in a loss.

cancel order

A customer order to a broker that cancels an earlier, unfilled order given by the customer.
References in periodicals archive ?
The ability to cancel orders would generally be seen as a pre-requisite for any kind of electronic trading," he added, pointing out that "This is going to be seen as a positive development everywhere.
As a number of airlines cancel orders or defer delivery of some planes already ordered, Boeing is weighing production cuts for all its models.