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 ?
JOB LOSSES Rolls-Royce revealed today it has cut 1,300 jobs as part of its plan to combat tougher economic conditions as customers opt to delay or cancel orders.
ROLLS?ROYCE has dashed hopes for a return to growth next year after seeing customers delay or cancel orders due to worsening economic conditions.
It added that customers were informed last month and could cancel orders if they wished.
"The inability to cancel orders in the way you do in other markets has prevented us from extending an electronic platform into the Turkish market," commented Ashok Krishnan, head of EMEA execution services and sales at broker Bank of America Merrill Lynch.
5 January 2009 - The French government plans to cancel orders for around 50 million vaccines against the A(H1N1) influenza, part of them manufactured by Swiss drug maker Novartis (VTX: NOVN).
They were not allowed to enter the system and cancel orders or reduce prices of items.
Daghestani declined to say if other clients in the Middle East might also cancel orders.- Reuters
He added AIG had no plans to cancel orders for the A350 or the A380 superjumbo.
"Although disguised by high fuel prices, this is about as good as it gets," he said, predicting that in two years time "we will see everybody cancel orders for over 1,000 new aircraft." Ironically, Bonderman also is chairman of Ryanair, which has outstanding firm orders for 143 737-800s and 193 options.
In early March,UPS was reported to be seeking to cancel orders for at least 20 of the A300-600 jetsworthabout pounds 1bn.