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ankur

ankur (Querist)
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13 May 2010 how to process wrong trade cancel in currency segment.

CA Shiv

CA Shiv (Expert)
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13 May 2010 pleae give in detail... question not understood

Aashok Kumar Sharma online

Aashok Kumar Sharma online

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02 August 2025 Urgent response:

To process a **wrong trade cancellation in the currency segment**, typically these are the steps (depending on your broker/exchange platform):

1. **Check Exchange/Broker Policy:**

* Most exchanges **do not allow trade cancellations** after execution except in case of obvious errors (like 'erroneous trades').
* Check if the exchange has a window or procedure for trade annulment or error trade reporting.

2. **Immediate Reporting:**

* Immediately inform your **broker** or **trading member** about the wrong trade.
* Submit a written request for cancellation or rectification as per the broker's procedure.

3. **Error Trade Application:**

* Fill out the **error trade application** form provided by your broker/exchange.
* Provide details like trade time, contract, price, quantity, and reason for cancellation.

4. **Wait for Exchange Approval:**

* Exchange will review the application and if accepted, the trade will be canceled or modified.
* If rejected, you will have to square off or adjust your positions accordingly.

5. **Rectification via Offsetting Trades:**

* If cancellation is not allowed, you can **offset the trade** by taking opposite positions to nullify the effect.

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**Note:** Time is crucial for such requests. Immediate action after the wrong trade is essential.

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