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 ?
He said that if a solution to the Cyprus problem is to be achieved peacefully and under the guidance of the UN, cancelling the Nikiforos exercise would give Cyprus added political leverage.
A Department of Health spokesman said 11,585 operations were cancelled because of "patient related problems", including the patient cancelling the operation.
We need to make the call and advise our superiors accordingly, waving the SAWABI flag whenever a current trajectory needs adjusting--or cancelling.