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 ?
Cracking the whip As per official data available with the Delhi transport department, 81,968 licences have been recommended for cancellation.
Fifty-six participating laboratories responded and prospectively identified a total of 3770 cancellation events.
iii) If confirmed ticket is presented for cancellation between 12 hours and upto 4 hours before the scheduled departure of the train irrespective of distance, 50% cancellation charge is levied subject to minimum flat cancellation charge.
Cancellation of the surgeries on the scheduled day of operation is a documented problem worldwide.
The total number of cancelled cases, the department wise cancellations and the reasons for cancellation were expressed in proportions.
Now, as a result, following the cancellation, there are, as of 30 May 2014, 311,070,330 shares and votes in the company, of which 2,000,000 are held in treasury by Lundin Petroleum.
Reasons for cancellation of ENT, head and neck surgeries in a Nigerian Teaching Hospital.
All of the patients who were cancelled for reasons pertaining to fitness for surgery were identified from the total cancellation group.
There will be only one way through which the cancellation process shall be resumed.
As an example, assume that the phases were perfectly matched but the amplitude of the cancellation signal was 20 percent smaller than the amplitude of the noise signal, then the cancellation would be incomplete and a significant residue signal would remain.
Therefore, where an applicable notice statute is silent as to the method of transmission, "so long as the policy contains the insured's e-mail address," the required notice may be satisfied by sending the notice of cancellation electronically.
A supplementary NAHB canvass of large, single-family home builders showed that, in January, cancellation rates (cancellations as a percentage of sales backlog) were up by about one-third, on average, from historically low levels a year earlier.