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pit definition - finance
The location of trading activity on futures or options exchanges that use open-outcry trading, a system in which traders shout out the prices they are willing to buy or sell contracts at. Around the pits are ascending steps, called rings, where support staff for traders stand.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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