posted on 06-06-2019

Market Identifier Code (MIC)

Updated October 1, 2019

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.


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Related Definitions

Stock
Stock, also known as equity, represents ownership interests in corporations. Whether you own one, 100 or 100 million shares of stock in a company, you're... See More
Market
A market is a location where buyers and sellers meet to exchange goods and services at prices determined by the forces of supply and demand. See More
X
X is an extension to a ticker symbol. It denotes that the security is a mutual fund.   See More
Market
A market is a location where buyers and sellers meet to exchange goods and services at prices determined by the forces of supply and demand. See More
New York Stock Exchange (NYSE)
The New York Stock Exchange (NYSE) is the oldest stock exchange in the United States, and it's located on Wall Street in lower Manhattan. It is the world... See More
Market
A market is a location where buyers and sellers meet to exchange goods and services at prices determined by the forces of supply and demand. See More
Multiple
A multiple is a relative valuation metric used to estimate the value of a stock. See More

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