pit

pit
The area on the trading floor where futures and options on futures contracts are bought and sold. Pits are usually raised octagonal platforms with steps descending on the inside that permit buyers and sellers of contracts to see each other. Chicago Board of Trade glossary
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The area on the trading floor of an exchange where futures trading takes place. The area is described as a "pit" because it is octagonal with steps descending into the center. Traders stand on the various steps, which designate the contract month they are trading. When viewed from above, the trading area looks like a pit. The CENTER ONLINE Futures Glossary
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A specific area of the trading floor that is designed for the trading of commodities ( commodity), individual futures, or option contracts. Bloomberg Financial Dictionary
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The place where futures and options are traded on the floor of a commodity exchange. Chicago Mercantile Exchange Glossary
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Arena in which open outcry trading in a particular product takes place. Each product or range of products will have its own designated pit. Dresdner Kleinwort Wasserstein financial glossary
See also ring. Dresdner Kleinwort Wasserstein financial glossary
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See ring Exchange Handbook Glossary

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pit pit [pɪt] noun [countable]
1. FINANCE an area of the floor of a financial market where buying and selling takes place and dealers speak directly to each other; = FLOOR; TRADING FLOOR:

• the currency pit of the Chicago Commodity Exchange

• the most active trader in the world's most active futures-trading pit

2. a mine, especially a coal mine:

• We have no choice but to close unprofitable pits.

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   An often self-contained section on an exchange floor for the trading of a particular type of financial instrument or commodity.
   ► See also Open Outcry.

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pit UK US /pɪt/ noun [C]
► STOCK MARKET the area of a stock exchange used for trading: »

Many traditional pits have moved their business to electronic trading systems.

→ Compare THE FLOOR(Cf. ↑the floor)
► NATURAL RESOURCES a deep area underground from which a natural resource is taken by digging: »

a coal/clay/gravel pit


Financial and business terms. 2012.

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Look at other dictionaries:

  • Pit — Pit, n. [OE. pit, put, AS. pytt a pit, hole, L. puteus a well, pit.] 1. A large cavity or hole in the ground, either natural or artificial; a cavity in the surface of a body; an indentation; specifically: (a) The shaft of a coal mine; a coal pit …   The Collaborative International Dictionary of English

  • Pit — may refer to:Technology* Programmable Interval Timer, a computing device * Pulsed inductive thruster, a device used in spacecraft propulsion * The core of a nuclear weaponPlaces* Pit River, a watershed in California * Pittsburgh International… …   Wikipedia

  • Pit — Cette page d’homonymie répertorie les différents sujets et articles partageant un même nom. {{{image}}}   Sigles d une seule lettre   Sigles de deux lettres > Sigles de trois lettres …   Wikipédia en Français

  • pit — ☆ pit1 [pit ] n. [Du < MDu pitte, akin to PITH] the hard stone, as of the plum, peach, or cherry, which contains the seed vt. pitted, pitting to remove the pit from (a fruit) pit2 [pit] n. [ME < OE pytt < early WGmc & NGmc * puttia (> …   English World dictionary

  • pit — Ⅰ. pit [1] ► NOUN 1) a large hole in the ground. 2) a mine or excavation for coal, chalk, etc. 3) a hollow or indentation in a surface. 4) a sunken area in a workshop floor allowing access to a car s underside. 5) an area at the side of a track… …   English terms dictionary

  • PIT — (engl. für „Grube“) ist Hundekampfarena (siehe: Kampfhund) eine (datentragende) Vertiefung auf einer Compact Disc ein Fluss in Kalifornien, siehe Pit River. die Fachbezeichnung für mikroskopisch kleine Vertiefungen/Schädigungen an Werksteinen von …   Deutsch Wikipedia

  • Pit — Pit, v. t. [imp. & p. p. {Pitted}; p. pr. & vb. n. {Pitting}.] 1. To place or put into a pit or hole. [1913 Webster] They lived like beasts, and were pitted like beasts, tumbled into the grave. T. Grander. [1913 Webster] 2. To mark with little… …   The Collaborative International Dictionary of English

  • Pit — (engl. für „Grube“) ist eine (datentragende) Vertiefung auf einer Compact Disc eine Arena für Hundekämpfe ein Fluss in Kalifornien, siehe Pit River. die Fachbezeichnung für mikroskopisch kleine Vertiefungen/Schädigungen an Werksteinen von… …   Deutsch Wikipedia

  • Pit — Saltar a navegación, búsqueda Un pit es uno de los pequeños agujeros o depresiones que el láser, sobre la superficie de un CD, DVD o cualquier otro soporte digital óptico como blu ray disc o HD DVD, quema para escribir un valor binario. El láser… …   Wikipedia Español

  • pit — sb., ten, pit, tene (ved motorløb), i sms. pit , fx pitstop; køre i pit …   Dansk ordbog

  • Pit — das; s, s <aus engl. pit »Grube«>: 1. im altengl. Theater der der Spielfläche gegenüberliegende Hof, in dem ärmere Zuschauer Stehplätze hatten. 2. (meist Plur.) Informationsträger auf Kompaktschallplatten (Elektrot.) …   Das große Fremdwörterbuch

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