Market Identifier Code - MIC

Filed Under » ,
Dictionary Says

Definition of 'Market Identifier Code - MIC'

A four-character code used to identify stock markets and other trading exchanges within global trading and referencing computer systems. The code is used to process and clear trades, and is being pushed toward global acceptance as the securities industries move toward straight-through-processing (STP). The London Stock Exchange uses MICs as part of its SEDOL security-identifying systems, which is an alternative to the U.S.-based CUSIP identifying system.
Investopedia Says

Investopedia explains 'Market Identifier Code - MIC'

STP is the holy grail of global securities trading. In order for it to be possible, there will need to be a wealth of consistent codes for market of origin, currency and security identification. As it stands now, there are several different systems used by different countries and for differing types of securities. One global standard will have to emerge over time, and all of the software and processing systems will have to back it, making the necessary technical changes along the way. This process will take time as securities industries move toward the ultimate goal of an "any security, anywhere, anytime" marketplace.
the International Organization for Standard (ISO) publishes the MIC list of all countries on the second Monday of the month.

Articles Of Interest

  1.

    Getting To Know The Stock Exchanges

    Here are the answers to all the questions you have about stock exchanges but are too afraid to ask!

  2. The Global Electronic Stock Market

    The way trading is conducted is changing rapidly as exchanges turn toward automation.

  3. What is a CUSIP number?

    CUSIP stands for Committee on Uniform Securities Identification Procedures. Formed in 1962, this committee developed a system (implemented in 1967) that identifies securities, specifically U.S. ...

  4. The NYSE And Nasdaq: How They Work

    Learn some of the important differences in the way these exchanges operate and the securities that trade on them.

  5. Are The NYSE Trading Floor's Days Numbered?

    The Intercontinental Exchange plans to buy the NYSE Euronextfor $8.2 billion. This article examines the implications of the potential sale.

  6. Has High Frequency Trading Ruined The Stock Market For The Rest Of Us?

    HFT is a controversial trading strategy. This article looks at how HFT affects the retail investor.

  7. Stock Exchanges Around The World

    We tell you about five of the most popular stock exchanges from around the globe.

  8. Trading In The Pre- And Post-Market Sessions

    After-hours trading may have benefits for traders, but there are some potential problems.

  9. How are share prices set?

    When a company goes public though an initial public offering (IPO), an investment bank evaluates the company's current and projected performance and health to determine the value of the IPO for ...

  10. What exactly is being done when shares are bought and sold?

    Most stocks are traded on physical or virtual exchanges. The New York Stock Exchange (NYSE), for example, is a physical exchange where some trades are placed manually on a trading floor (other ...
comments powered by Disqus
Marketplace
Hot Definitions

  1. Zomma

    An options greek used to measure the change in gamma in relation to changes in the volatility of the underlying asset.

  2. Yield Elbow

    The point on the yield curve indicating the year in which the economy's highest interest rates occur. The yield elbow is the peak of the yield curve, signifying where the highest interest rates occurred.

  3. Xenocurrency

    A currency that trades in markets outside of its domestic borders.

  4. Wanton Disregard

    A standard of severe negligence. Wanton disregard is a very serious accusation that indicates that a person behaved extremely recklessly.

  5. Ultra ETF

    A class of exchange-traded funds (ETF) that employs leverage in an effort to achieve double the return of a set benchmark.

  6. Toehold Purchase

    A purchase of less than 5% of a target company's outstanding stockmade by an acquiring company. A toehold purchase of just under 5%, while not a significant stake in a firm, allows the shareholders a "toe-holds" grip on the company and its decision making.
Trading Center
http://sp.fastclick.net/ad/tr/10858-64082-15546-0?mpt=fa9d9cd5400a0a5397b24b9f4d0645d6