ex-pit

Ex-Pit Transaction

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.

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.
Mentioned in ?
References in periodicals archive ?
Romey has been painting in the region for 35 years, mostly in - as she puts it - "a small ex-pit village between Durham City and the Dales".
That's made me who I am and that's why representing that working class constituency, ex-pit villages, I'm really proud of that.
The project is planned to include an open-pit mine, in-pit and ex-pit waste dumps, run-of-mine (ROM) coal dump and hopper facilities feeding a coal preparation plant, rail loop and rail loading facilities, and associated electrical distribution, maintenance and warehousing, and administrative facilities.
We are a small club in a small ex-pit village in Northumberland and the money from Wish Junior Football will help us buy much-needed kit and equipment to enable us to train and play in the local football leagues.
Ex-pit manager Malcolm Fyeld, 58, of Cwmllynfell, and owners MNS Mining Ltd were cleared of causing the death of colliers Garry Jenkins, David Powell, Philip Hill and Charles Breslin when the 100-year-old pit ooded after blasting operations on September 15, 2011.
At Swansea Crown Court on Thursday, ex-pit manager Malcolm Fyfield, 58, of Cwmllynfell, and owners MNS Mining Ltd were cleared of causing the death of colliers Garry Jenkins, David Powell, Philip Hill and Charles Breslin when the 100-year-old pit flooded after blasting operations on September 15, 2011.
The tycoon, 70, fell in love with the club, whose shirts he sponsors, after tracing his roots to the ex-pit town in Northumberland.
Welsh goalkeeper Jack Kelsey ran the length of the pitch to congratulate ex-pit boy Graham Moore, 18, who scored the winning goal in Wales' international against England in the rain at Ninian Park.
Tens of thousands of ex-pit workers are in line for payouts in a major operation to confront lawyers who ripped off claimants for miningrelated illnesses.
This tax - levied at around 35percent on the ex-pit cost - will make our own quarries less competitive and will potentially allow continental imports to take our market.
Production rates peaked in 1980 at 348,000 mt/d; however as the pit deepened, the stripping ratio decreased resulting in an ex-pit production in 1989 of 208,000 mt/d, of which 94,800 mt/d was ore.
He was born in the ex-pit village, where he was once a miner, 100 years ago.