Cancel

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Cancel

To void an order to buy or sell from (1) the floor, or (2) the trader/salesperson's scope. In Autex, the indication still remains on record as having once been placed unless it is expunged.

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.
References in periodicals archive ?
The letter to FIFA, the Swiss-based governing body of international soccer, also complained of Egypt canceling game.
Christians will have to raise their voice on behalf of all the poor of the world, proposing the Jubilee as an appropriate time to give thought, among other things, to reducing substantially, if not canceling outright, the international debt that seriously threatens the future of many nations.
NBA President Keith Watters said his members were in full support of canceling the organization's 1997 San Diego date.