A Market Identifier Code (MIC) is a four-character code defined by ISO 10383 that uniquely identifies securities markets, trading exchanges, and trading platforms worldwide.
Structure
MICs follow a standardized format:
- Length: Always 4 characters
- Format: Alphanumeric, typically starting with 'X'
- Scope: Globally unique across all financial markets
Common MIC Codes
| MIC | Market | Location |
|---|---|---|
| XLON | London Stock Exchange | United Kingdom |
| XNYS | New York Stock Exchange | United States |
| XNAS | NASDAQ | United States |
| XPAR | Euronext Paris | France |
| XHKG | Hong Kong Stock Exchange | Hong Kong |
Usage in Disambiguation
MICs are essential when the same TIDM exists on multiple exchanges. For example:
XLON:SPArefers to Spa Holdings on the LSEXNYS:SPAwould refer to a different security on NYSE
The MIC:TIDM format is commonly used for human-readable security identification, though systems typically use ISINs for unambiguous internal identification.