General
pit
What does pit mean?
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."
Frequently asked questions
What does pit mean in trading?
The pit is the tiered ring on an exchange floor where open-outcry traders shout and signal their orders.
How do you use pit in a sentence?
"He spent twenty years yelling orders in the pit."
Why is it called a pit?
The name reflects its shape — a stepped, sunken ring that let traders see and hear each other across the floor.
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