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
  • Qualifying Relative
    For example, let's assume that John and Jane Doe took in Jane's mother because she ran...
  • Ultrafast Trading
    Ultrafast trading relies on software and algorithms that react to other trades in the...
  • Lease Payments
    Leases can be for a variety of assets, though real estate often comes to mind first. For...
  • Shadow Open Market Committee (SOMC)
    Founded by two economists from Carnegie Mellon University and the University of Rochester...
  • Managed Futures Account
    When you buy a managed futures account, in essence you're hiring an expert to buy, sell...