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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

pit

A location on a commodities exchange trading floor where the futures of a particular commodity are traded. Also called ring.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
* The Echo's wine writer Neil Cammies gives his verdict: UPON hearing the sad news that Ballantynes Wine Merchants was going out of business, there was that awful feeling in the pit of the stomach and a sadness that is felt when you lose an old friend.
It was identified as the skeleton of a woman aged about 70 years, according to the funeral customs of the early Western Han dynasty, the distance between the chin and the pit of the stomach; bone structure and thickness; as well as other evidence.
With world events so volatile, particularly where air travel is involved, that aching knot started to form in the pit of the stomach, anticipating the awful truth.