Cancel Former Order (CFO)
An order given by an investor instructing his/her broker to cancel a previously placed order.

Investopedia Says:
CFO's are typically followed by new orders placed on the same securities. For example, if you placed a limit order to sell Cory's Tequila Corporation (CTC) at $15 and then decided that you wanted to sell it at market, then you would CFO your first order and enter in a new order to sell CTC at market.

If you change your mind about an order, CFO's are important to enter because you don't want to be transacting your securities twice.

Related Terms:
Day-Around Order
Limit Order
Market Order
Order
Stop Order

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