CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

What is a Market Identifier Code?

Market Identifier Code

Sometimes abbreviated to MIC, a market identifier code is a unique four-character code that identifies stock markets and other securities trading exchanges. Each code is defined in ISO 10383 by the International Organisation for Standardisation (ISO).

Where have you heard about market identifier codes?

MICs are becoming increasingly accepted on a global basis, with the London Stock Exchange using MICs as part of its SEDOL security-identifying systems. A specific MIC example is XNAS, which is used to identify trades executed on the NASDAQ market.

What you need to know about market identifier codes.

As mentioned above, each MIC is defined in ISO 10383, which refers to the ISO standard that specifies a universal method of identifying exchanges, trading platforms and regulated and non-regulated markets. Securities industries are increasingly moving towards straight-through-processing (STP), which is the ideal situation in global securities trading. For this to happen, it requires a wealth of consistent codes. On the second Monday of the month, the ISO published the MIC list of all countries with new MICs being frequently added to the list.

Latest video

Latest Articles

View all articles

Still looking for a broker you can trust?

Join the 650,000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading