I’ll be answering if Cosmic Cyclone negates.
Does Cosmic Cyclone negate?
No technically.
The effects of Cosmic Cyclone only banishes the Spell or Trap after activation.
Targeting cards that’s being activated
There’s precedence of rules that take place when chaining effects.
An example would be a scenario where a spell or trap card has an effect that’s getting applied.
This card will simply banish it after the effects take place to prevent future play.
RealTalkAJ 
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