Market Identifier Code

Financial markets
Public market Exchange · Securities
Bond market
Bond valuation Corporate bond Fixed income Government bond High-yield debt Municipal bond Securitization
Stock market
Common stock Preferred stock Registered share Stock Stock certificate Stock exchange
Other markets
Derivatives (Credit derivative Futures exchange Hybrid security) Foreign exchange (Currency Exchange rate) Commodity Money Real estate Reinsurance
Over-the-counter (off-exchange)
Forwards Options Spot market Swaps
Trading
Participants Regulation Clearing
Related areas
Banks and banking Finance corporate personal public
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The Market Identifier Code (MIC) (ISO 10383) is a unique identification code used to identify securities trading exchanges, regulated and non-regulated trading markets. The MIC is a four alphanumeric character code, and is defined in ISO 10383.^[1] by the International Organization for Standardization (ISO).^[2] For example, trades that are executed on the US NASDAQ market are identified using MIC code XNAS.

ISO 10383[]

ISO 10383 is the ISO standard which "specifies a universal method of identifying exchanges, trading platforms and regulated or non-regulated markets as sources of prices and related information in order to facilitate automated processing". The FIX Protocol uses MICs to represent values of the Fix Exchange data type. Markets of various asset classes, including equities, options and futures apply for MICs through the ISO.

MICs are updated frequently and the latest published list is available at the maintenance organization of ISO 10383 in various formats: Excel, CSV, XML and PDF. These also include Modified and Deactivated MICs, as well as change lists since the last published update.

Exchange (operating MIC) vs Market (MIC)[]

MIC codes are allocated at two levels:

• Exchange (operating MIC). E.g. NASDAQ has code XNAS
• Market (MIC), where the exchange's operating MIC is also used as MIC of its main market or "all" markets. E.g. NASDAQ markets have these MICs:
  • XNAS: NASDAQ - All Markets
  • XNCM: NASDAQ Capital Market
  • XNDQ: NASDAQ Options Market
  • XNFI: NASDAQ Fixed Income Trading
  • XNGS: NASDAQ/NGS (Global Select Market)
  • XNIM: NASDAQ Intermarket

The site Iota Finance^[3] provides a useful reference of MIC codes that is updated regularly.

See also[]

• List of finance topics
• International Securities Identifying Number
• SEDOL
• CUSIP
• Ticker symbol
• Central Index Key
• ISO 6166
• ISO 10962
• NSIN

Notes[]

External links[]

• Complete list of Market Identifier Codes (PDF format) (CSV format) (Retrieved May, 2020)