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
  • Vagit Y. Alekperov
    Born in 1950 in Baku, Azerbaijan, Alekperov is the youngest of five children. He went...
  • Saturday Night Special
    Let's assume Company XYZ wants to purchase the common shares of Company 123. To...
  • Tax Home
    Let's assume John lives in Montana during the summer and Arizona during the winter. He...
  • Delivery Price
    Upon the expiration of a futures contract, the underlying commodity is delivered to the...
  • Tax Reform Act of 1993
    The Tax Reform Act of 1993 had several components that received a lot of attention. The...