MIC -- Market Identifier Code -- Definition & Example | InvestingAnswers

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.

Table of Contents

Ask an Expert about Market Identifier Code (MIC)

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.

Paul Tracy - 140

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 3 million monthly readers.

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

Ask a question Read more from Paul

More From Our Experts

How to Start Investing: The Best Investments for 2021

How to Start Investing: The Best Investments for 2021

Whether you're an experienced investor or just getting started, here's what you need to know about investing for 2021. Read More ›

The 10 Best Real Estate Crowdfunding Sites for 2021 - Pros, Cons & Our Favorites

The 10 Best Real Estate Crowdfunding Sites for 2021 - Pros, Cons & Our Favorites

Crowdfunding is a great way to get into real estate. It allows you to get started with less money than traditional real estate, as well as avoid the hassles that come with being a landlord. Here's a closer look at our 10 favorite real estate crowdfunding sites. Read More ›

Discover the Best Online Brokers and How They Work For Building Wealth

Discover the Best Online Brokers and How They Work For Building Wealth

Learn what to look for in an online broker, the best options for your needs, and how to get the most out of the online brokerage you choose. Here are the best online brokers for 2021 based on an in-depth review by our team of experts. Read More ›

The 13 Best Robo Advisors for 2021 - Pros, Cons, & Top Picks

The 13 Best Robo Advisors for 2021 - Pros, Cons, & Top Picks

What are robo advisors and how do these automatic financial planners work? Here's everything you need to know to find the best robo advisor for your family. Read More ›

7 Best Crypto Exchanges of 2021 with Low Fees and Top Security

7 Best Crypto Exchanges of 2021 with Low Fees and Top Security

Buying crypto from a reputable exchange can give investors peace of mind about security, and offer a wide range of trading capabilities. Read More ›

Betterment RoboAdvisor Review: Pros and Cons

Betterment is the original, full-featured robo advisor which offers low-fee asset management, $0 minimums, and access to actual human Certified Financial Planners (CFP®). Read More ›

Share

© 2021 InvestingAnswers, Inc.