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 ?
When we reached the edge of the pit I saw that it was very deep, and presently I realized I was soon to judge just how far it extended below the surface of the court, for he who held the rope passed it about my body in such a way that it could be released from above at any time; and then, as all the warriors grasped it, he pushed me forward, and I fell into the yawning abyss.
The pit, which my imagination had pictured as bottomless, proved to be not more than a hundred feet in depth; but as its walls were smoothly polished it might as well have been a thousand feet, for I could never hope to escape without outside assistance.
The rope came in tight and strained; and ring after ring was coiled upon the barrel of the windlass, and all eyes were fastened on the pit.
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.
Finally I gave him a fair choice between freedom and the pits beneath the palace--the price of freedom to be full information as to where you were imprisoned and directions which would lead us to you; but still he maintained his stubborn partisanship.
For fifteen days the noble Hor Vastus has languished in the darkness of the pits, but not in vain.
Few there are who visit the pits other than the dead, except my pupils--ey
Puzzle as he would, however, he could not solve the mystery of the concealed pit, for the ways of the blacks were still strange ways to Tarzan.
It came to pass, then, that having sallied forth one morning to practise and exercise himself in what he would have to do in the encounter he expected to find himself engaged in the next day, as he was putting Rocinante through his paces or pressing him to the charge, he brought his feet so close to a pit that but for reining him in tightly it would have been impossible for him to avoid falling into it.
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.
By removing two stakes there would be left plenty of room for the lion to leap from the pit, which was not of any great depth.
As he spoke the Count looked downwards towards the boxes behind us on the pit tier.