open outcry pit Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “open outcry pit” in the English Dictionary

"open outcry pit" in Business English

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open outcry pitnoun [C]

uk   us   STOCK MARKET, FINANCE
the ​area of ​floor in a ​financialmarket where ​people shout out their bids and ​offers, rather than ​trading over the ​telephone or ​online: The ​majority of ​trade is done through ​openoutcrypits with ​dealers shouting ​orders across the ​floor.
(Definition of open outcry pit from the Cambridge Business English Dictionary © Cambridge University Press)
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