Cancel-only mode is a restricted operating state in which a trading platform permits users to cancel existing orders but blocks activities such as placing or changing orders. It can help reduce risk while a platform investigates a problem or stabilizes its systems.
In a security response, limiting trading can help prevent new activity from worsening an outage or affecting market integrity. Cancel-only mode is an operational safeguard, not evidence by itself of a breach or of what caused an incident. Platforms may use it alongside other controls, such as pausing transaction-processing services, while they assess the issue and determine when normal activity can safely resume.