Pit
Categories: Trading
No, if it were Brad, it'd have two "t"s. This is pit. As in: the pendulum. It's a low place. The pits. The place at La Brea Tar where dinosaurs went to die. You do not want to be here.
But here we're talking finance, and in finance, a pit is a place where people work.
Specifically, it's part of a trading floor where the buying and selling actually takes place. You know how movies involving the stock market always include some b-roll footage of people yelling at each other at the exchange? Think: Wall Street, Trading Places, or The Wolf of Wall Street. Those people yelling at each other are standing in the pit.
Of course, much of today's trading takes place through computers. However, any live trading that occurs happens in the pit. Financial transactions as gladiatorial contest.
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Finance: What is a Floor Broker v. Floor...13 Views
Finance allah shmoop What is ah floor broker versus a
floor trader All right Well here's a floor fixer and
here's a floor broker but okay Shocking a floor broker
Brokers stocks on the floor of a stock exchange Right
Well here's the new york stock exchange here's its floor
These guys down here they're floor brokers That is they're
trading stocks and other securities on behalf of their clients
Basically this is the scene from trading places with eddie
murphy Great old film Old rich white guys in a
building up here Call down to their guys on the
floor who execute their bidding All right well it's a
bunch of brokers all trading their clients stocks right here
and here And here and here and here all over
the world within among each other So that money is
well pushed around thoroughly like that Cato's in grandma's hash
browns recipe Note that a floor broker is different from
a floor trader Who although he or she works on
the floor of an exchange also makes trades as a
principal for his or her own account So yeah that's
floor broker No jackhammer required Thank you very much Go