Trading Basics
PIT
This was the physical location where traders used to trade. Now largely redundant and replaced with virtual trading.
Other Trading Basics
Basis Point
A basis point is 0.01% and is typically used when quoting interest rate changes.
A move of 0.25% is described as 25 basis points.
Cut and Reverse
When a position is fully reversed and an opposing position taken in a single trade.
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