Investing Answers Building and Protecting Your Wealth through Education Publisher of The Next Banks That Could Fail
Investing Answers Building and Protecting Your Wealth through Education Publisher of The Next Banks That Could Fail

Market Identifier Code (MIC)

What it is:

A market identifier code (MIC) is a four-letter or digit abbreviation that represents a specific stock market.

How it works (Example):

MICs always begins with the letter "X," followed by a combination of three additional letters and/or numbers. A MIC appears in the details for securities trades and indicates the market in which the trade occurred. For example, XNYS is the market identifier code for the New York Stock Exchange (NYSE).

Why it Matters:

MICs are a standardized system of market identification recognized in multiple markets. Worldwide efforts to implement efficient straight-through processing (STP) for securities trades rely heavily on MICs.

Related Terms View All
  • Minor Downtrend
    The minor trend is the last of the three trend types in Dow Theory -- the other two types...
  • Office of Foreign Assets Control
    The Treasury Department began sanction activity during the War of 1812, when the U.S....
  • Hedge-like Mutual Fund
    Hedge funds are capitalized by and available only to individuals with high net worth....
  • Secular Market
    Let's say the United States experiences a massive terror attack on its own soil, similar...
  • Notary
    A notary public goes through training and obtains an official seal to affix to paperwork...