First, a procedure in Oracle does not and cannot return anything. A function returns something. A procedure can have an out
parameter.
Second, unless you're using 12.1, procedures in Oracle can't implicitly return a cursor by executing a select
statement like they can in SQL Server. It would be much more common in Oracle to use a view for this sort of thing.
Third, in Oracle, the empty string is NULL so if you have code that expects a non-NULL empty string to be returned, you're going to have to change that.
Potentially, something like this would be the closest equivalent code
CREATE OR REPLACE PROCEDURE lc_unbookTrade(
p_exeid IN VARCHAR2,
p_rc OUT SYS_REFCURSOR )
AS
BEGIN
OPEN p_rc
FOR SELECT null
FROM dual;
END;
Depending on the code you're using to call your procedure, though, this may not be a transparent change.