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 DoH decision countermands Food Standards Agency advice saying that meat from OTM cattle could be reintroduced without risk onwards from January this year.
This prejudice even countermands the law's usual preference for placing the custody of children with their natural mother.
The Supreme Court held that custodial interviews create a psychologically compelling atmosphere that countermands the Fifth Amendment privilege against self incrimination.
The circuit court overturned the arbitrator's decision, ruling that once an employer has established a drug testing program to ensure the safety of its staff and the public, "it countermands public policy if courts too readily rescue employees who fail to satisfy programmatic standards."
NPCA contends that the proposal directly countermands the presidents recently announced initiative to aid the Anacostia area and conservationists' continuing efforts to dean up the Chesapeake Bay watershed.