Market Identifier Code (MIC)

Written By
Paul Tracy
Updated November 4, 2020

What is a Market Identifier Code (MIC)?

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

How Does a Market Identifier Code (MIC) Work?

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 Does a Market Identifier Code (MIC) Matter?

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.

Ask an Expert
All of our content is verified for accuracy by Paul Tracy and our team of certified financial experts. We pride ourselves on quality, research, and transparency, and we value your feedback. Below you'll find answers to some of the most common reader questions about Market Identifier Code (MIC).
Be the first to ask a question

If you have a question about Market Identifier Code (MIC), then please ask Paul.

Ask a question

Paul has been a respected figure in the financial markets for more than two decades. Prior to starting InvestingAnswers, Paul founded and managed one of the most influential investment research firms in America, with more than 2 million monthly readers.

If you have a question about Market Identifier Code (MIC), then please ask Paul.

Ask a question Read more from Paul

Read this next

Paul Tracy - profile
Ask an Expert about Market Identifier Code (MIC)

By submitting this form you agree with our Privacy Policy

Don't Know a Financial Term?
Search our library of 4,000+ terms