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Finance Dictionary and Glossary of Investment Terms
specific area of the trading floor that is designed for the trading of commodities, individual futures, or option contracts.
A circular area on an exchange's floor where the trading of a specific futures contract or option contract occurs. If a member firm wants to trade a specific contract anonymously, it will often use the services of a broker in the pit.
A specific area of the trading floor that is designated for the trading of an individual futures or options contract.