You don't cancel trades on Wall Street. Ever.
Your word is your bond, and a lot of people are losing their bonds right now.
* * * * * J B K * * * * *
San Francisco
In the wake of the stock market's May 6 chaos, more than 10,000 trades have been cancelled, according to the Nasdaq OMX Group.
Exchanges including Nasdaq and NYSE Euronext's New York Stock Exchange agreed to cancel "clearly erroneous" trades after hundreds of stocks and exchange-traded funds lost as much as 99 percent of their value and then fully recovered in a 20-minute period on Thursday.
Regulators are still struggling to understand what caused the bizarre trading.
http://www.msnbc.msn.com/id/37089056/ns/business-stocks_and_economy/
