Market Identifier Code (MIC)

A Market Identifier Code (MIC) is a unique four-character alphanumeric code used to identify financial exchanges, trading platforms, and other market entities. MICs are standardized by the International Organization for Standardization (ISO) to ensure uniformity in the identification of trading venues. These codes are used globally by traders, brokers, and financial institutions to facilitate the accurate routing of trades and reporting of transactions.

Example

The MIC for the New York Stock Exchange is "XNYS," which is used by traders and financial systems to identify trades executed on the NYSE.

Key points

• A unique four-character code used to identify financial exchanges and trading platforms.

• Standardized by the International Organization for Standardization (ISO).

• Ensures accurate routing of trades and reporting of transactions in global markets.

Quick Answers to Curious Questions

What is a Market Identifier Code (MIC)?

A MIC is a unique four-character code that identifies financial exchanges, trading platforms, and market entities globally.

Why are MICs important in financial markets?

They ensure the accurate routing of trades and help standardize the identification of trading venues for reporting purposes.

Who assigns Market Identifier Codes?

MICs are assigned by the International Organization for Standardization (ISO) as part of its global standards for financial markets.