It sure can. As soon as a trade proposal is agreed upon by both sides, a 24-hour owner approval process begins. During this time, each owner may choose to approve or reject the trade proposal. After the approval period expires, the votes are tallied and the trade is either completed or vetoed. A veto requires at least 6 owners to reject the trade.
Remember, your veto vote isn't a secret! The owners will see who approved and who rejected a trade. Who knows how this could affect your future wheeling and dealings?