Answer:
No, it can't negate anything.
- It can stop an attack by removing the attacker. That's not 'negation' though.
- There are a few monsters who it can stop their effects resolving. Zombie Master is one - chain Interdimensional Matter Transporter to his activation, and it will remove him, then his effect will resolve without effect. This still isn't negation either, as negation is a specific game term.