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Ex-Pit

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ex-pit
Of or relating to a futures transaction that takes place away from the trading floor. For example, a person long a futures contract on coffee may agree to take delivery of the commodity from an investor who is short an identical contract. The two parties have to close out their respective obligation away from the trading floor.
Ex-Pit
Describing a futures transaction that does not occur on the trading floor. These transactions are called ex-pit because the futures trading floor is informally called the pit.


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This decrease was mainly the result of low concentrate grades associated with the processing of reverberatory slag and low matte grades linked to high pyrrhotite levels in the ex-pit ores and the flooding of the open pit in the first quarter of the year.
Rio Tinto Subsidiary Palabora Mining Announces Unaudited Group Results by Business Wire
At Boddington, production was slightly lower, with a further slight fall in head grades reflecting the increasing reliance on lower grade stockpiles and ex-pit material.
Normandy Mining Limited - Report On Activities For The Three Months ... by Business Wire
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