diff --git a/tests/adapters/broker/test_kis_cancel.py b/tests/adapters/broker/test_kis_cancel.py
index b18d074..8494f0a 100644
--- a/tests/adapters/broker/test_kis_cancel.py
+++ b/tests/adapters/broker/test_kis_cancel.py
@@ -7,7 +7,7 @@ pre-seeded, httpx.get faked) and assert the FillStatus mapping.
 
 from __future__ import annotations
 
-from datetime import datetime, timedelta, timezone
+from datetime import UTC, datetime, timedelta
 
 from trex_core.adapters.broker import kis as kis_mod
 from trex_core.adapters.broker.kis import KISBroker
@@ -23,7 +23,7 @@ def _broker():
         base_url="https://openapivts.koreainvestment.com:29443",  # mock endpoint
     )
     b._token = "tok"
-    b._token_exp = datetime.now(tz=timezone.utc) + timedelta(hours=1)
+    b._token_exp = datetime.now(tz=UTC) + timedelta(hours=1)
     return b
 
 
@@ -52,6 +52,7 @@ def _row(**kw):
         "rjct_qty": "0",
         "ord_dt": "20260608",
         "ord_gno_brno": "06010",
+        "pdno": "005930",
     }
     base.update(kw)
     return {"rt_cd": "0", "output1": [base]}
@@ -130,3 +131,519 @@ def test_full_fill_unaffected_by_cancel_flag(monkeypatch):
         f"06010:{ODNO}", side="sell", symbol="005930", order_date="20260608"
     )
     assert fs.is_filled and fs.filled_qty == 10 and not fs.is_partial_cancel
+
+
+# ── Regression: KIS child cancel row (orgn_odno) ─────────────────────────────
+
+def _payload_with_child_cancel(parent_odno: str, child_odno: str, ord_qty: str = "89", symbol: str = "225190"):
+    """Simulate KIS returning original row (cncl_yn='') + separate cancel child."""
+    parent = {
+        "odno": parent_odno,
+        "orgn_odno": "",
+        "ord_qty": ord_qty,
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "",
+        "rjct_qty": "0",
+        "rmn_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "06010",
+        "pdno": symbol,
+    }
+    child = {
+        "odno": child_odno,
+        "orgn_odno": parent_odno,
+        "ord_qty": ord_qty,
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "Y",
+        "rjct_qty": "0",
+        "rmn_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "06010",
+        "pdno": symbol,
+    }
+    return {"rt_cd": "0", "output1": [parent, child]}
+
+
+def test_child_cancel_row_orgn_odno_maps_to_cancelled(monkeypatch):
+    """KIS child row with orgn_odno=<original> + cncl_yn=Y → full cancel."""
+    payload = _payload_with_child_cancel(ODNO, "0000123457")
+    monkeypatch.setattr(kis_mod.httpx, "get", _fake_get(payload))
+    fs = _broker().poll_fill(
+        f"06010:{ODNO}", side="buy", symbol="225190", order_date="20260901"
+    )
+    assert fs.state == "cancelled", f"expected cancelled, got {fs.state}"
+    assert fs.is_terminal_reject
+
+
+def test_correction_child_row_not_misclassified_as_cancel(monkeypatch):
+    """Correction child (cncl_yn!='Y') must not be treated as a cancel.
+
+    Issue #81 AC: a correction/replacement child means the order is superseded
+    but we cannot safely determine terminal status without the replacement
+    identity → fail-closed as 'unknown' (not 'accepted/open_confirmed').
+    """
+    parent = {
+        "odno": ODNO,
+        "orgn_odno": "",
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "",
+        "rjct_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "06010",
+        "pdno": "225190",
+    }
+    correction_child = {
+        "odno": "0000123458",
+        "orgn_odno": ODNO,
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "N",  # correction, not cancel
+        "rjct_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "06010",
+        "pdno": "225190",
+    }
+    monkeypatch.setattr(
+        kis_mod.httpx, "get", _fake_get({"rt_cd": "0", "output1": [parent, correction_child]})
+    )
+    fs = _broker().poll_fill(
+        f"06010:{ODNO}", side="buy", symbol="225190", order_date="20260901"
+    )
+    # Correction child means replacement identity is unresolved → fail-closed
+    assert fs.state == "unknown", f"expected unknown, got {fs.state}"
+    raw = fs.raw if isinstance(fs.raw, dict) else {}
+    assert raw.get("reason") == "correction_child_present_unresolved"
+    # Must NOT be open_confirmed — that would allow new orders on the same slot
+    assert not raw.get("order_open_confirmed", False)
+
+
+def test_partial_fill_with_child_cancel_row(monkeypatch):
+    """Partial fill on parent + cancel child → partial_cancel."""
+    parent = {
+        "odno": ODNO,
+        "orgn_odno": "",
+        "ord_qty": "10",
+        "tot_ccld_qty": "4",
+        "avg_prvs": "70000",
+        "cncl_yn": "",
+        "rjct_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "06010",
+        "pdno": "225190",
+    }
+    child = {
+        "odno": "0000123459",
+        "orgn_odno": ODNO,
+        "ord_qty": "6",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "Y",
+        "rjct_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "06010",
+        "pdno": "225190",
+    }
+    monkeypatch.setattr(
+        kis_mod.httpx, "get", _fake_get({"rt_cd": "0", "output1": [parent, child]})
+    )
+    fs = _broker().poll_fill(
+        f"06010:{ODNO}", side="sell", symbol="225190", order_date="20260901"
+    )
+    assert fs.state == "partially_filled"
+    assert fs.cancelled and fs.is_partial_cancel
+    assert fs.filled_qty == 4
+
+
+# ── Regression: identity mismatch / ambiguous child rows ─────────────────────
+
+def test_child_cancel_mismatched_branch_is_ignored(monkeypatch):
+    """Cancel child from a different branch (ord_gno_brno) must not affect parent."""
+    parent = {
+        "odno": ODNO,
+        "orgn_odno": "",
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "",
+        "rjct_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "06010",
+        "pdno": "225190",
+    }
+    child_wrong_branch = {
+        "odno": "0000199999",
+        "orgn_odno": ODNO,
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "Y",
+        "rjct_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "99999",  # different branch
+        "pdno": "225190",
+    }
+    monkeypatch.setattr(
+        kis_mod.httpx, "get", _fake_get({"rt_cd": "0", "output1": [parent, child_wrong_branch]})
+    )
+    fs = _broker().poll_fill(
+        f"06010:{ODNO}", side="buy", symbol="225190", order_date="20260901"
+    )
+    # Child has wrong branch → not a matching cancel → parent stays accepted
+    assert fs.state == "accepted", f"expected accepted (mismatch branch), got {fs.state}"
+
+
+def test_child_cancel_mismatched_symbol_is_ignored(monkeypatch):
+    """Cancel child with different symbol (pdno) must not affect parent."""
+    parent = {
+        "odno": ODNO,
+        "orgn_odno": "",
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "",
+        "rjct_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "06010",
+        "pdno": "225190",
+    }
+    child_wrong_symbol = {
+        "odno": "0000199998",
+        "orgn_odno": ODNO,
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "Y",
+        "rjct_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "06010",
+        "pdno": "000660",  # different symbol
+    }
+    monkeypatch.setattr(
+        kis_mod.httpx, "get", _fake_get({"rt_cd": "0", "output1": [parent, child_wrong_symbol]})
+    )
+    fs = _broker().poll_fill(
+        f"06010:{ODNO}", side="buy", symbol="225190", order_date="20260901"
+    )
+    assert fs.state == "accepted", f"expected accepted (mismatch symbol), got {fs.state}"
+
+
+def test_child_cancel_mismatched_date_is_ignored(monkeypatch):
+    """Cancel child with different ord_dt must not affect parent."""
+    parent = {
+        "odno": ODNO,
+        "orgn_odno": "",
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "",
+        "rjct_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "06010",
+        "pdno": "225190",
+    }
+    child_wrong_date = {
+        "odno": "0000199997",
+        "orgn_odno": ODNO,
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "Y",
+        "rjct_qty": "0",
+        "ord_dt": "20260831",  # different date
+        "ord_gno_brno": "06010",
+        "pdno": "225190",
+    }
+    monkeypatch.setattr(
+        kis_mod.httpx, "get", _fake_get({"rt_cd": "0", "output1": [parent, child_wrong_date]})
+    )
+    fs = _broker().poll_fill(
+        f"06010:{ODNO}", side="buy", symbol="225190", order_date="20260901"
+    )
+    assert fs.state == "accepted", f"expected accepted (mismatch date), got {fs.state}"
+
+
+def test_ambiguous_multiple_child_cancel_rows_return_unknown(monkeypatch):
+    """Two matching cancel children → ambiguous identity → fail-closed as unknown."""
+    parent = {
+        "odno": ODNO,
+        "orgn_odno": "",
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "",
+        "rjct_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "06010",
+        "pdno": "225190",
+    }
+    child1 = {**parent, "odno": "0000123460", "orgn_odno": ODNO, "cncl_yn": "Y", "ord_qty": "10"}
+    child2 = {**parent, "odno": "0000123461", "orgn_odno": ODNO, "cncl_yn": "Y", "ord_qty": "10"}
+    monkeypatch.setattr(
+        kis_mod.httpx, "get", _fake_get({"rt_cd": "0", "output1": [parent, child1, child2]})
+    )
+    fs = _broker().poll_fill(
+        f"06010:{ODNO}", side="buy", symbol="225190", order_date="20260901"
+    )
+    assert fs.state == "unknown", f"expected unknown (ambiguous children), got {fs.state}"
+    raw = fs.raw if isinstance(fs.raw, dict) else {}
+    assert raw.get("reason") == "child_cancel_ambiguous"
+
+
+# ── Regression: parent row identity mismatch with request ────────────────────
+
+def test_parent_row_wrong_branch_returns_unknown(monkeypatch):
+    """Parent row with wrong ord_gno_brno (branch) relative to broker_order_id → unknown."""
+    parent = {
+        "odno": ODNO,
+        "orgn_odno": "",
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "",
+        "rjct_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "99999",  # wrong branch — request has 06010
+        "pdno": "225190",
+    }
+    monkeypatch.setattr(
+        kis_mod.httpx, "get", _fake_get({"rt_cd": "0", "output1": [parent]})
+    )
+    # broker_order_id encodes branch 06010, but row has 99999
+    fs = _broker().poll_fill(
+        f"06010:{ODNO}", side="buy", symbol="225190", order_date="20260901"
+    )
+    assert fs.state == "unknown", f"expected unknown (wrong parent branch), got {fs.state}"
+    raw = fs.raw if isinstance(fs.raw, dict) else {}
+    assert "mismatch" in raw.get("reason", "")
+
+
+def test_parent_row_wrong_date_returns_unknown(monkeypatch):
+    """Parent row with wrong ord_dt relative to order_date arg → unknown."""
+    parent = {
+        "odno": ODNO,
+        "orgn_odno": "",
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "",
+        "rjct_qty": "0",
+        "ord_dt": "20260831",  # wrong date — request has 20260901
+        "ord_gno_brno": "06010",
+        "pdno": "225190",
+    }
+    monkeypatch.setattr(
+        kis_mod.httpx, "get", _fake_get({"rt_cd": "0", "output1": [parent]})
+    )
+    fs = _broker().poll_fill(
+        f"06010:{ODNO}", side="buy", symbol="225190", order_date="20260901"
+    )
+    assert fs.state == "unknown", f"expected unknown (wrong parent date), got {fs.state}"
+    raw = fs.raw if isinstance(fs.raw, dict) else {}
+    assert "mismatch" in raw.get("reason", "")
+
+
+def test_parent_row_wrong_symbol_returns_unknown(monkeypatch):
+    """Parent row with wrong pdno (symbol) relative to symbol arg → unknown."""
+    parent = {
+        "odno": ODNO,
+        "orgn_odno": "",
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "",
+        "rjct_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "06010",
+        "pdno": "000660",  # wrong symbol — request has 225190
+    }
+    monkeypatch.setattr(
+        kis_mod.httpx, "get", _fake_get({"rt_cd": "0", "output1": [parent]})
+    )
+    fs = _broker().poll_fill(
+        f"06010:{ODNO}", side="buy", symbol="225190", order_date="20260901"
+    )
+    assert fs.state == "unknown", f"expected unknown (wrong parent symbol), got {fs.state}"
+    raw = fs.raw if isinstance(fs.raw, dict) else {}
+    assert "mismatch" in raw.get("reason", "")
+
+
+def test_correction_child_wrong_identity_is_not_treated_as_correction(monkeypatch):
+    """Correction child with wrong branch/date/symbol must not trigger correction_child_present_unresolved."""
+    parent = {
+        "odno": ODNO,
+        "orgn_odno": "",
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "",
+        "rjct_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "06010",
+        "pdno": "225190",
+    }
+    unrelated_correction = {
+        "odno": "0000199990",
+        "orgn_odno": ODNO,
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "N",
+        "rjct_qty": "0",
+        "ord_dt": "20260831",   # different date → not related to our request
+        "ord_gno_brno": "99999",  # different branch
+        "pdno": "000660",         # different symbol
+    }
+    monkeypatch.setattr(
+        kis_mod.httpx,
+        "get",
+        _fake_get({"rt_cd": "0", "output1": [parent, unrelated_correction]}),
+    )
+    fs = _broker().poll_fill(
+        f"06010:{ODNO}", side="buy", symbol="225190", order_date="20260901"
+    )
+    # Unrelated correction must not cause correction_child_present_unresolved
+    assert fs.state == "accepted", f"expected accepted (unrelated correction), got {fs.state}"
+    raw = fs.raw if isinstance(fs.raw, dict) else {}
+    assert raw.get("reason") != "correction_child_present_unresolved"
+
+
+# ── Regression: parent identity boundary cases (missing / wrong-first / ambiguous) ─
+
+def test_parent_missing_identity_fields_returns_unknown(monkeypatch):
+    """Parent row with missing pdno and ord_dt → treated as identity mismatch (fail-closed)."""
+    parent_no_identity = {
+        "odno": ODNO,
+        "orgn_odno": "",
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "Y",   # would be cancelled if accepted
+        "rjct_qty": "0",
+        # ord_dt, ord_gno_brno, pdno intentionally absent
+    }
+    monkeypatch.setattr(
+        kis_mod.httpx, "get", _fake_get({"rt_cd": "0", "output1": [parent_no_identity]})
+    )
+    fs = _broker().poll_fill(
+        f"06010:{ODNO}", side="buy", symbol="225190", order_date="20260901"
+    )
+    # Missing identity → fail-closed, not terminal
+    assert fs.state == "unknown", f"expected unknown (missing identity), got {fs.state}"
+    assert not fs.is_terminal_reject
+
+
+def test_child_cancel_missing_identity_fields_not_accepted_as_cancel(monkeypatch):
+    """Cancel child with missing identity fields must NOT be accepted as matching child."""
+    parent = {
+        "odno": ODNO,
+        "orgn_odno": "",
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "",
+        "rjct_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "06010",
+        "pdno": "225190",
+    }
+    child_no_identity = {
+        "odno": "0000123461",
+        "orgn_odno": ODNO,
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "Y",
+        "rjct_qty": "0",
+        # ord_dt, ord_gno_brno, pdno intentionally absent
+    }
+    monkeypatch.setattr(
+        kis_mod.httpx,
+        "get",
+        _fake_get({"rt_cd": "0", "output1": [parent, child_no_identity]}),
+    )
+    fs = _broker().poll_fill(
+        f"06010:{ODNO}", side="buy", symbol="225190", order_date="20260901"
+    )
+    # Child has missing identity → not a matching cancel; parent has no fill → accepted
+    assert fs.state == "accepted", f"expected accepted (child missing identity), got {fs.state}"
+
+
+def test_wrong_parent_first_exact_parent_later_finds_cancel(monkeypatch):
+    """When the wrong-branch parent comes first, the exact parent+cancel child later must win."""
+    wrong_parent = {
+        "odno": ODNO,
+        "orgn_odno": "",
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "",
+        "rjct_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "99999",   # wrong branch — comes first in list
+        "pdno": "225190",
+    }
+    exact_parent = {
+        "odno": ODNO,
+        "orgn_odno": "",
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "",
+        "rjct_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "06010",   # correct branch — comes second
+        "pdno": "225190",
+    }
+    child = {
+        "odno": "0000123462",
+        "orgn_odno": ODNO,
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "Y",
+        "rjct_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "06010",
+        "pdno": "225190",
+    }
+    monkeypatch.setattr(
+        kis_mod.httpx,
+        "get",
+        _fake_get({"rt_cd": "0", "output1": [wrong_parent, exact_parent, child]}),
+    )
+    fs = _broker().poll_fill(
+        f"06010:{ODNO}", side="buy", symbol="225190", order_date="20260901"
+    )
+    # Must find the exact parent + cancel child even though wrong parent comes first
+    assert fs.state == "cancelled", f"expected cancelled (exact parent later), got {fs.state}"
+
+
+def test_ambiguous_exact_parents_returns_unknown(monkeypatch):
+    """Two rows with identical exact identity → ambiguous parent → unknown."""
+    parent1 = {
+        "odno": ODNO,
+        "orgn_odno": "",
+        "ord_qty": "10",
+        "tot_ccld_qty": "0",
+        "avg_prvs": "0",
+        "cncl_yn": "",
+        "rjct_qty": "0",
+        "ord_dt": "20260901",
+        "ord_gno_brno": "06010",
+        "pdno": "225190",
+    }
+    parent2 = {**parent1}  # exact duplicate
+    monkeypatch.setattr(
+        kis_mod.httpx, "get", _fake_get({"rt_cd": "0", "output1": [parent1, parent2]})
+    )
+    fs = _broker().poll_fill(
+        f"06010:{ODNO}", side="buy", symbol="225190", order_date="20260901"
+    )
+    assert fs.state == "unknown", f"expected unknown (ambiguous parents), got {fs.state}"
+    raw = fs.raw if isinstance(fs.raw, dict) else {}
+    assert raw.get("reason") == "parent_identity_ambiguous"
diff --git a/tests/adapters/persistence/test_postgresql_repository.py b/tests/adapters/persistence/test_postgresql_repository.py
index c422c00..01d13d0 100644
--- a/tests/adapters/persistence/test_postgresql_repository.py
+++ b/tests/adapters/persistence/test_postgresql_repository.py
@@ -2,6 +2,8 @@
 Skipped without TREX_POSTGRESQL_TEST_DSN."""
 from __future__ import annotations
 
+from datetime import UTC, datetime, timedelta
+
 from trex_core.adapters.persistence.in_memory_intent_store import InMemoryIntentStore  # noqa: F401
 from trex_core.adapters.persistence.postgresql import (
     PostgreSQLIntentStore,
@@ -244,3 +246,80 @@ def test_strategy_state_write_cannot_follow_close(pg_clean):
     result = store.set(slot.slot_id, "instance", expected_version=1, data="after", slot_active=True)
     assert not result.ok and result.reason == "slot_inactive"
     assert store.get_for_slots([slot.slot_id])[slot.slot_id]["instance"].data == "before"
+
+
+# ── Regression: reserve_cancel_attempt() SQL paths (issue #81 Fix A) ─────────
+# These tests exercise the real PostgreSQL code path that previously failed with
+# IndeterminateDatatype when retry_before=None was bound to %s IS NOT NULL.
+
+def test_reserve_cancel_first_attempt_retry_before_none_pg(pg_clean):
+    """First reservation with retry_before=None must succeed exactly once."""
+    repo, _, intents = _wire(pg_clean)
+    repo.reconcile_universe(INST, {"PF-1": "005930"})
+    d = intents.submit_buy(BuyIntent(intent_id="pg-can-first", qty=1, portfolio_id="PF-1"))
+    repo.mark_dispatched(d.slot_id, "ord-first")
+
+    # First reservation: retry_before=None — must not raise IndeterminateDatatype
+    assert repo.reserve_cancel_attempt(d.slot_id, "ord-first") is True
+
+    slot = repo.fetch_slot(d.slot_id)
+    assert slot.cancel_state == "unknown"
+    assert slot.cancel_attempts == 1
+    assert slot.cancel_requested_at is not None
+
+    # Duplicate CAS must be rejected (cancel_state is no longer NULL)
+    assert repo.reserve_cancel_attempt(d.slot_id, "ord-first") is False
+    assert repo.fetch_slot(d.slot_id).cancel_attempts == 1  # not incremented
+
+
+def test_reserve_cancel_retry_backoff_gated_pg(pg_clean):
+    """Retry path with retry_before is accepted when backoff window passes."""
+    import psycopg
+
+    repo, _, intents = _wire(pg_clean)
+    repo.reconcile_universe(INST, {"PF-1": "005930"})
+    d = intents.submit_buy(BuyIntent(intent_id="pg-can-retry", qty=1, portfolio_id="PF-1"))
+    repo.mark_dispatched(d.slot_id, "ord-retry")
+
+    # Simulate a previous cancel attempt that left state=rejected a while ago
+    past = datetime.now(tz=UTC) - timedelta(seconds=60)
+    with psycopg.connect(pg_clean, autocommit=False) as conn:
+        with conn.cursor() as cur:
+            cur.execute(
+                "UPDATE daily_slot SET cancel_state='rejected', cancel_requested_at=%s, "
+                "cancel_attempts=1 WHERE slot_id=%s",
+                (past, d.slot_id),
+            )
+        conn.commit()
+
+    # retry_before = now means backoff window has elapsed
+    retry_before = datetime.now(tz=UTC)
+    assert repo.reserve_cancel_attempt(d.slot_id, "ord-retry", retry_before=retry_before) is True
+
+    slot = repo.fetch_slot(d.slot_id)
+    assert slot.cancel_state == "unknown"
+    assert slot.cancel_attempts == 2
+
+
+def test_reserve_cancel_retry_max_attempts_blocked_pg(pg_clean):
+    """Retry is rejected when cancel_attempts >= 4."""
+    import psycopg
+
+    repo, _, intents = _wire(pg_clean)
+    repo.reconcile_universe(INST, {"PF-1": "005930"})
+    d = intents.submit_buy(BuyIntent(intent_id="pg-can-max", qty=1, portfolio_id="PF-1"))
+    repo.mark_dispatched(d.slot_id, "ord-max")
+
+    past = datetime.now(tz=UTC) - timedelta(seconds=120)
+    with psycopg.connect(pg_clean, autocommit=False) as conn:
+        with conn.cursor() as cur:
+            cur.execute(
+                "UPDATE daily_slot SET cancel_state='rejected', cancel_requested_at=%s, "
+                "cancel_attempts=4 WHERE slot_id=%s",
+                (past, d.slot_id),
+            )
+        conn.commit()
+
+    retry_before = datetime.now(tz=UTC)
+    assert repo.reserve_cancel_attempt(d.slot_id, "ord-max", retry_before=retry_before) is False
+    assert repo.fetch_slot(d.slot_id).cancel_attempts == 4  # unchanged
diff --git a/tests/application/test_execution_cancel.py b/tests/application/test_execution_cancel.py
index 1fae52f..e606db3 100644
--- a/tests/application/test_execution_cancel.py
+++ b/tests/application/test_execution_cancel.py
@@ -179,3 +179,115 @@ def test_operator_cancel_is_sent_once_across_repeat_and_restart():
     assert restarted.cancel_pending_slot(sid) == "cancel_already_recorded"
     assert broker.cancel_calls == 1
     assert repo.fetch_slot(sid).cancel_state == CancelState.REQUESTED.value
+
+
+# ── Regression: first-cancel reservation (retry_before=None) ─────────────────
+
+def test_first_cancel_reservation_with_no_retry_before_succeeds():
+    """First cancel reservation with retry_before=None must reserve exactly once (fix for
+    PostgreSQL IndeterminateDatatype; the in-memory repo mirrors the corrected SQL path)."""
+    broker = ProgrammableBroker()
+    repo, svc, intents, execution, _, _ = _wire(broker)
+    sid = _buy_to_holding(intents, execution)
+    intents.submit_sell(SellIntent(intent_id="s1", slot_id=sid))
+    broker.responder = lambda side: FillStatus(state="accepted")
+    execution.run_once()  # dispatch
+
+    # First operator cancel — retry_before=None path
+    result = execution.cancel_pending_slot(sid)
+    assert result == "ok", f"expected ok, got {result}"
+    assert broker.cancel_calls == 1
+    # Second call must be idempotent (cancel_state already set)
+    result2 = execution.cancel_pending_slot(sid)
+    assert result2 == "cancel_already_recorded"
+    assert broker.cancel_calls == 1  # no second broker call
+
+
+def test_timeout_cancel_first_attempt_with_retry_before_none():
+    """Timeout cancel's first attempt passes retry_before=None; must call broker once."""
+    broker = ProgrammableBroker()
+    repo, svc, intents, execution, _, _ = _wire(broker)
+    sid = _buy_to_holding(intents, execution)
+    intents.submit_sell(SellIntent(intent_id="s1", slot_id=sid))
+    broker.responder = lambda side: FillStatus(
+        state="accepted",
+        raw={"order_open_confirmed": True},
+    )
+    execution.run_once()  # dispatch
+
+    # Simulate timeout: set order_submitted_at well in the past
+    s = repo.fetch_slot(sid)
+    repo._slots[sid] = replace(
+        s,
+        order_submitted_at=datetime.now(tz=timezone.utc) - timedelta(seconds=120),
+        order_date="20260901",
+        timeout_sec=30,
+    )
+    execution.run_once()  # should trigger timeout cancel
+    assert broker.cancel_calls == 1
+
+
+# ── Regression: concurrent timeout/operator cancel race — broker call count 1 ─
+
+def test_timeout_operator_race_broker_called_exactly_once():
+    """Timeout cancel loop and operator cancel_pending_slot race to the same first
+    reservation.  The repository CAS guarantees exactly one winner; broker must
+    receive cancel_order exactly once regardless of scheduling order.
+
+    Uses a threading barrier so both paths enter reserve_cancel_attempt
+    simultaneously, making the race deterministic.
+    """
+    import threading
+
+    broker = ProgrammableBroker()
+    repo, _, intents, execution, _, _ = _wire(broker)
+    sid = _buy_to_holding(intents, execution)
+    intents.submit_sell(SellIntent(intent_id="s1", slot_id=sid))
+    broker.responder = lambda side: FillStatus(
+        state="accepted",
+        raw={"order_open_confirmed": True},
+    )
+    execution.run_once()  # dispatch sell
+
+    # Backdate so timeout_cancel fires in the next run_once()
+    s = repo.fetch_slot(sid)
+    repo._slots[sid] = replace(
+        s,
+        order_submitted_at=datetime.now(tz=timezone.utc) - timedelta(seconds=120),
+        order_date="20260901",
+        timeout_sec=30,
+    )
+
+    barrier = threading.Barrier(2)
+    original_reserve = repo.reserve_cancel_attempt
+
+    def _barrier_reserve(slot_id, broker_order_id, *, retry_before=None):
+        barrier.wait(timeout=5)
+        return original_reserve(slot_id, broker_order_id, retry_before=retry_before)
+
+    repo.reserve_cancel_attempt = _barrier_reserve
+
+    errors = []
+
+    def _operator():
+        try:
+            execution.cancel_pending_slot(sid)
+        except Exception as exc:  # noqa: BLE001
+            errors.append(exc)
+
+    t = threading.Thread(target=_operator)
+    t.start()
+
+    # Execution loop's timeout cancel is the second concurrent caller.
+    try:
+        execution.run_once()
+    except Exception as exc:  # noqa: BLE001
+        errors.append(exc)
+
+    t.join(timeout=5)
+    assert not errors, f"thread errors: {errors}"
+
+    # CAS ensures exactly one winner — broker cancel must be called once.
+    assert broker.cancel_calls == 1, (
+        f"expected exactly 1 broker cancel call, got {broker.cancel_calls}"
+    )
diff --git a/tests/runtime/test_daemon_execution_loop_exception_logging.py b/tests/runtime/test_daemon_execution_loop_exception_logging.py
new file mode 100644
index 0000000..5657fb2
--- /dev/null
+++ b/tests/runtime/test_daemon_execution_loop_exception_logging.py
@@ -0,0 +1,70 @@
+"""Regression: execution loop exceptions must be logged without leaking secrets.
+
+dcy-031 / issue #81 (Fix C):
+- Exceptions from execution.run_once() were silently ignored via bare `continue`.
+- Sanitized logging requirement: only type(exc).__name__ is emitted; the
+  exception message, traceback, and exc_info must NOT appear in the log record
+  so adapter exceptions containing credentials/DSN/raw payload are never exposed.
+- Worker must continue after the error (loop survives).
+"""
+from __future__ import annotations
+
+import logging
+import threading
+
+_SENTINEL = "SECRET-DSN-CREDENTIAL-RAWPAYLOAD-DO-NOT-LOG"
+
+
+def test_execution_loop_logs_exception_without_leaking_secrets(caplog):
+    """Exception type is logged; secret sentinel in exc message is NOT logged."""
+    import trex_core.runtime.daemon as daemon_mod
+
+    call_count = 0
+    stop_event = threading.Event()
+
+    class _FakeExecution:
+        def run_once(self):
+            nonlocal call_count
+            call_count += 1
+            if call_count == 1:
+                raise RuntimeError(f"dsn=postgresql://user:{_SENTINEL}@host/db")
+            # Stop after second successful tick
+            stop_event.set()
+
+    class _FakePublisher:
+        def keepalive_tick(self):
+            pass
+
+    class _FakeConfig:
+        execution_interval_sec = 0.001
+
+    daemon = object.__new__(daemon_mod.Daemon)
+    daemon.stop = stop_event
+    daemon.config = _FakeConfig()
+    daemon.event_publisher = _FakePublisher()
+    daemon.execution = _FakeExecution()
+
+    with caplog.at_level(logging.ERROR, logger="trex_core.runtime.daemon"):
+        t = threading.Thread(target=daemon._execution_loop, daemon=True)
+        t.start()
+        t.join(timeout=2.0)
+
+    assert not t.is_alive(), "execution loop did not exit cleanly"
+
+    error_records = [r for r in caplog.records if "execution loop error" in r.message]
+    assert error_records, (
+        f"expected 'execution loop error' log record, got: {[r.message for r in caplog.records]}"
+    )
+
+    # Secret sentinel must NOT appear in any log record (message or exc_info output)
+    for rec in caplog.records:
+        assert _SENTINEL not in rec.getMessage(), (
+            f"secret sentinel leaked into log: {rec.getMessage()}"
+        )
+        # exc_info must not be attached
+        assert rec.exc_info is None or rec.exc_info == (None, None, None), (
+            "exc_info must not be set on execution loop error record"
+        )
+
+    # The loop continued: second call_count tick was reached
+    assert call_count >= 2, "loop did not continue after exception"
diff --git a/trex_core/adapters/broker/kis.py b/trex_core/adapters/broker/kis.py
index abb6982..32dadcd 100644
--- a/trex_core/adapters/broker/kis.py
+++ b/trex_core/adapters/broker/kis.py
@@ -413,15 +413,56 @@ class KISBroker:
         self._fill_poll_not_before[broker_order_id] = monotonic() + _FILL_POLL_MIN_INTERVAL_SECONDS
         rows = payload.get("output1") or []
         normalized_odno = odno.lstrip("0") or "0"
-        row = next(
-            (
-                r
-                for r in rows
-                if (str(r.get("odno") or "").strip().lstrip("0") or "0") == normalized_odno
-            ),
-            None,
-        )
-        if row is None:
+        # Canonical request identity from the caller — these are authoritative
+        # and must not be overridden by whatever the response row contains.
+        request_brno = broker_order_id.split(":")[0] if ":" in broker_order_id else ""
+        request_date = inquiry_date  # == order_date
+        request_symbol = symbol
+
+        def _row_odno_normalized(r: dict) -> str:
+            return str(r.get("odno") or "").strip().lstrip("0") or "0"
+
+        def _row_matches_request_identity(r: dict) -> bool:
+            """True when a row's identity fields are present and agree with the
+            authoritative request identity.  An absent field in the row is
+            treated as a mismatch (fail-closed), not as a wildcard."""
+            row_brno = str(r.get("ord_gno_brno") or "").strip()
+            row_dt = str(r.get("ord_dt") or "").strip()
+            row_pdno = str(r.get("pdno") or "").strip()
+            # brno: required only when request carries one; if request has no
+            # brno (legacy odno-only format) skip the check to preserve
+            # backwards compatibility.
+            if request_brno and (not row_brno or row_brno != request_brno):
+                return False
+            # date and symbol: always required — these never legitimately vary
+            # for the same order on the same inquiry date.
+            if not row_dt or row_dt != request_date:
+                return False
+            return bool(row_pdno) and row_pdno == request_symbol
+
+        # Collect ALL rows whose odno matches.  We must then require exactly
+        # one that also passes the full identity check.  Using next() here
+        # would accept the first odno-match regardless of identity and stop
+        # the search, missing authoritative rows that come later and ignoring
+        # the ambiguous-parent edge case.
+        odno_matches = [
+            r for r in rows if _row_odno_normalized(r) == normalized_odno
+        ]
+        exact_parent_matches = [r for r in odno_matches if _row_matches_request_identity(r)]
+
+        if len(exact_parent_matches) == 0:
+            # No row with the exact request identity.  If there are odno
+            # matches they all failed identity validation → unknown (not grace).
+            if odno_matches:
+                return FillStatus(
+                    state="unknown",
+                    raw={
+                        "reason": "parent_identity_mismatch",
+                        "order_visible": True,
+                        "inquiry_date": inquiry_date,
+                    },
+                )
+            # Truly invisible — apply the submission visibility grace window.
             visible_grace = (
                 submitted_at is None
                 or (self._clock().astimezone(UTC) - submitted_at.astimezone(UTC))
@@ -440,6 +481,94 @@ class KISBroker:
                     "inquiry_date": inquiry_date,
                 },
             )
+
+        if len(exact_parent_matches) > 1:
+            # More than one row claims the same exact identity — ambiguous.
+            return FillStatus(
+                state="unknown",
+                raw={
+                    "reason": "parent_identity_ambiguous",
+                    "order_visible": True,
+                    "inquiry_date": inquiry_date,
+                },
+            )
+
+        row = exact_parent_matches[0]
+
+        # dcy-013 ext: KIS sometimes records an external cancel as a separate
+        # child row with orgn_odno=<original> and cncl_yn="Y" rather than
+        # setting cncl_yn on the original row.  Scan sibling rows to detect
+        # this case.
+        #
+        # Safety requirements:
+        #   - Child must share the AUTHORITATIVE request identity (branch, date,
+        #     symbol from the caller).  All identity fields must be present and
+        #     equal — absent fields are NOT treated as wildcards (fail-closed).
+        #   - Ambiguous (> 1 matching cancel) → fail-closed "unknown".
+        #   - Correction (정정) children (cncl_yn != "Y") that match the same
+        #     request identity are also fail-closed → "unknown".
+        #   - Unrelated rows whose identity fields differ from the request are
+        #     excluded from both candidate lists.
+        def _child_matches_request(r: dict) -> bool:
+            """True when a child row's identity fields are all present and
+            equal to the authoritative request identity.  Missing = mismatch."""
+            child_brno = str(r.get("ord_gno_brno") or "").strip()
+            child_dt = str(r.get("ord_dt") or "").strip()
+            child_pdno = str(r.get("pdno") or "").strip()
+            if request_brno and (not child_brno or child_brno != request_brno):
+                return False
+            if not child_dt or child_dt != request_date:
+                return False
+            return bool(child_pdno) and child_pdno == request_symbol
+
+        child_cancel_candidates = [
+            r
+            for r in rows
+            if (str(r.get("orgn_odno") or "").strip().lstrip("0") or "0") == normalized_odno
+            and str(r.get("cncl_yn") or "").strip().upper() == "Y"
+            and _child_matches_request(r)
+        ]
+
+        # Correction children: same orgn_odno + matching identity but cncl_yn != "Y".
+        correction_candidates = [
+            r
+            for r in rows
+            if (str(r.get("orgn_odno") or "").strip().lstrip("0") or "0") == normalized_odno
+            and str(r.get("cncl_yn") or "").strip().upper() != "Y"
+            and _child_matches_request(r)
+        ]
+
+        if len(child_cancel_candidates) > 1:
+            # More than one matching cancel child — identity is ambiguous.
+            return FillStatus(
+                state="unknown",
+                raw={
+                    "reason": "child_cancel_ambiguous",
+                    "order_visible": True,
+                    "inquiry_date": inquiry_date,
+                },
+            )
+
+        if correction_candidates:
+            # A correction/replacement child is present; the original order is
+            # superseded but we cannot safely infer terminal status without
+            # explicit broker confirmation of the replacement identity.
+            return FillStatus(
+                state="unknown",
+                raw={
+                    "reason": "correction_child_present_unresolved",
+                    "order_visible": True,
+                    "inquiry_date": inquiry_date,
+                },
+            )
+
+        if child_cancel_candidates and str(row.get("cncl_yn") or "").strip().upper() != "Y":
+            child_cancel_row = child_cancel_candidates[0]
+            # Inject the cancel signal from the child row into the parent row so
+            # _fill_status_from_row can treat it as cancelled, while keeping
+            # the original row's fill quantities authoritative.
+            row = {**row, "cncl_yn": "Y", "_child_cancel_odno": str(child_cancel_row.get("odno") or "")}
+
         status = self._fill_status_from_row(
             row, side=side, today=inquiry_date, fallback_odno=odno
         )
diff --git a/trex_core/adapters/persistence/postgresql.py b/trex_core/adapters/persistence/postgresql.py
index cbe5154..6a52b3d 100644
--- a/trex_core/adapters/persistence/postgresql.py
+++ b/trex_core/adapters/persistence/postgresql.py
@@ -385,20 +385,37 @@ class PostgreSQLSlotRepository:
         *,
         retry_before: Optional[datetime] = None,
     ) -> bool:
-        """Atomically reserve first cancel or an authoritative backoff-gated retry."""
+        """Atomically reserve first cancel or an authoritative backoff-gated retry.
+
+        Two separate SQL paths avoid nullable-placeholder type-inference errors
+        (PostgreSQL IndeterminateDatatype when binding None to %s IS NOT NULL).
+        """
         now = datetime.now(tz=timezone.utc)
         with self._psycopg.connect(self._dsn, autocommit=False) as conn:
             with conn.cursor() as cur:
-                cur.execute(
-                    "UPDATE daily_slot SET cancel_state='unknown', cancel_requested_at=%s, "
-                    "cancel_attempts=cancel_attempts+1, updated_at=%s "
-                    "WHERE slot_id=%s AND broker_order_id=%s "
-                    "AND status IN ('pending_buy','pending_sell') "
-                    "AND (cancel_state IS NULL OR "
-                    "(%s IS NOT NULL AND cancel_state IN ('rejected','unknown') "
-                    "AND cancel_attempts < 4 AND cancel_requested_at <= %s))",
-                    (now, now, slot_id, broker_order_id, retry_before, retry_before),
-                )
+                if retry_before is None:
+                    # First reservation: only match when no cancel has been
+                    # attempted yet (cancel_state IS NULL).
+                    cur.execute(
+                        "UPDATE daily_slot SET cancel_state='unknown', cancel_requested_at=%s, "
+                        "cancel_attempts=cancel_attempts+1, updated_at=%s "
+                        "WHERE slot_id=%s AND broker_order_id=%s "
+                        "AND status IN ('pending_buy','pending_sell') "
+                        "AND cancel_state IS NULL",
+                        (now, now, slot_id, broker_order_id),
+                    )
+                else:
+                    # Retry: backoff-gated, only match retryable states.
+                    cur.execute(
+                        "UPDATE daily_slot SET cancel_state='unknown', cancel_requested_at=%s, "
+                        "cancel_attempts=cancel_attempts+1, updated_at=%s "
+                        "WHERE slot_id=%s AND broker_order_id=%s "
+                        "AND status IN ('pending_buy','pending_sell') "
+                        "AND cancel_state IN ('rejected','unknown') "
+                        "AND cancel_attempts < 4 "
+                        "AND cancel_requested_at <= %s",
+                        (now, now, slot_id, broker_order_id, retry_before),
+                    )
                 ok = cur.rowcount == 1
                 conn.commit()
                 return ok
diff --git a/trex_core/runtime/daemon.py b/trex_core/runtime/daemon.py
index 9e8e61e..d232973 100644
--- a/trex_core/runtime/daemon.py
+++ b/trex_core/runtime/daemon.py
@@ -408,8 +408,14 @@ class Daemon:
             self.event_publisher.keepalive_tick()
             try:
                 self.execution.run_once()
-            except Exception:  # noqa: BLE001 - loop must survive transient errors
-                continue
+            except Exception as exc:  # noqa: BLE001 - loop must survive transient errors
+                # Sanitized: emit only the exception type, not the message or
+                # traceback, so credentials / DSN / raw payloads in adapter
+                # exceptions are never written to the log stream.
+                _log.error(
+                    "execution loop error — worker continues: exc_type=%s",
+                    type(exc).__name__,
+                )
 
     def _ledger_loop(self) -> None:
         while not self.stop.wait(self.config.ledger_interval_sec):