pit

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Pit

A specific area of the trading floor that is designed for the trading of commodities, individual futures, or option contracts.

Ring

A place on an exchange assigned for the trading of certain commodities, futures, or options. It is also called a pit or a trading pit.

pit

A location on a commodities exchange trading floor where the futures of a particular commodity are traded. Also called ring.
References in classic literature ?
To my amazement I found the sides of the pit, that I had thought smooth, lined with shelves, upon which were the most delicious viands and liquid refreshments that Okar afforded.
That was the word the yellow guardsman had whispered in my ear as I stood upon the verge of the Pit of Plenty.
As these were made, they were hung upon an arm of the pitman who had last come up, with instructions how to use them: and as he stood, shown by the light he carried, leaning his powerful loose hand upon one of the poles, and sometimes glancing down the pit, and sometimes glancing round upon the people, he was not the least conspicuous figure in the scene.
It appeared from the little this man said to those about him, which was quickly repeated all over the circle, that the lost man had fallen upon a mass of crumbled rubbish with which the pit was half choked up, and that his fall had been further broken by some jagged earth at the side.
Contemplating these "Silent Ones," as the Kukuanas call them, an intense curiosity again seized us to know whose were the hands which had shaped them, who it was that had dug the pit and made the road.
Pierre glanced into the pit and saw that the factory lad was lying with his knees close up to his head and one shoulder higher than the other.
Why, they are driving us toward the Black Pit, into which they threatened to cast us," replied the kitten.
As the distance lessened, the sounds increased in volume, which indicated that he was approaching a very angry lion and presently, where a jungle giant overspread the broad game trail that countless thousands of hoofed and padded feet had worn and trampled into a deep furrow during perhaps countless ages, he saw beneath him the lion pit of the Wamabos and in it, leaping futilely for freedom such a lion as even Tarzan of the Apes never before had beheld.
These furnaces, constructed of fireproof brick, were especially adapted for burning pit coal, with a flat bottom upon which the iron bars were laid.
He saw the pit grow in depth until a great hole yawned the width of the trail--a hole which was amply large enough to hold at one time all of the six excavators.
The worst of men generally have the words rogue and villain most in their mouths, as the lowest of all wretches are the aptest to cry out low in the pit.
Returning along the passage, on the left-hand side from the stage, and looking about me attentively, I discovered him in the pit.