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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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Paul Tracy
Paul Tracy

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.