Negative Confirmation
Categories: Trading, Regulations
"Yes, I said, 'no.' Or, rather, I confirm that the answer is 'no.' We shall not be canoodling tonight."
Confirming a "no" is important in Wall Street parlance, as so many vague terms and line noise on phones make trades prone to errors, so all kinds of mechanisms are now in place to confirm "yes"es and "no"s along the way.