- A futures exchange term used to describe a structure next to or adjacent to a trading pit or ring where exchange employees record and report price changes in futures contracts as they occur. Pulpit also refers to amateur or non professional speculators in contrast to professional hedgers, speculators and traders.
Origin & History of “pulpit”
Classical Latin pulpitum, a word of unknown origin, denoted ‘platform, stage’. this sense was originally carried over into English (Miles Coverdale, in his 1535 translation of II Chronicles 6:13, wrote ‘Salomon had made a brasen pulpit … upon the same stood he’, where the 1611 Authorized Version was later to have ‘Solomon had made a brasen scaffold … and upon it he stood’). But it was eventually swamped by a subsidiary sense which emerged in medieval Latin: pulpitum had been applied particularly to platforms on which people stood to speak in public, and in ecclesiastical usage it came to denote a ‘raised structure on which preachers stand’.