noun
General Slang
Pit
· noun · finance
The tiered ring on an exchange floor where open-outcry traders work.
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Definitions
1
A stepped octagonal arena on an exchange floor. Traders stand on the rim shouting orders into the middle — the tiers exist so everyone can see everyone else's hand signals. Each pit handles one product: the bond pit, the S&P pit, the gold pit.
“He came up in the eurodollar pit at the CME before going upstairs to run a screen desk.”
by community
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2
By extension, the trading floor as a workplace — the broader scene of floor brokers and locals, win or lose, lunch in the pit.
“Twenty years in the pit and he still gets the shakes when bonds move a full point.”
by community
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Pit In A Sentence
He came up in the eurodollar pit at the CME before going upstairs to run a screen desk.
Twenty years in the pit and he still gets the shakes when bonds move a full point.
Origin & Usage
Variants
trading pit
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