Market Identifier Code - MIC
Categories: Metrics
A “market identifier code,” or MIC, is like a Social Security number for stock markets: each market gets its own.
An MIC is four characters long and begins with “X.” For X-ample...the New York Stock Exchange’s MIC is XNYS.
The purpose of MICs is to allow easy data compilation and comparison between stock markets. There’s been a big push to get every market hooked up with its own MIC, especially as the world moves toward straight-through processing (basically an international automatic payment system). In fact, ISO—the International Standards Organization—is a big fan of market identifier codes, and every month they publish a list of all the MICs out there in the world. So if we’ve got a stock exchange, and we want it to be able to play with and talk to the big boys and girls in the investment world, looks like we should do what we can to avoid dropping the MIC.
Ba-dum tiss.
Related or Semi-related Video
Finance: What is SIPC?23 Views
finance a la shmoop what is the SIPC SIPC say it fast and it'll protect you [Guy stood in front of a skyscraper]
fast Civic Securities investor Protection corporation it's an
intentionally nonprofit corporation not like shmoop which basically insures your [Building that says 'deadpuppiesashats.com']
assets like investments in stocks and bonds which are held at a brokerage firm
which is troubled well the SI pc exists because in the [Piles of money in front of brokerage firms]
past brokerage firms have in fact gone bankrupt sometimes its customers then
lose everything they had with that fly-by-night brokerage and the notion [Bags of money next to people start to disappear]
that investors can't trust the people to whom they are giving their life savings
is a very bad notion bad for America that Trust has to be protected at all [Knights appear]
costs or it means the death of well trust in the financial system of America [Gravestone for trust]
at which point things get yeah oh so bad so today the SIPC limit is 500 grand of [Bomb explodes]
protection with half of that being protections against cash holdings and
the rest covers investments in stocks and bonds if you have more money than
that at a given brokerage like an individual one and they should disappear [Types of invested money shown]
well too bad for you at least for everything over 500 grand [Calculation showing a loss of $100,000]
so because the u.s. is such a kindly loving place both citizens and [The statue of liberty]
non-citizens are protected under SIPC and this is actually a very good idea [Two people stood under a SIPC umbrella]
financially because it encourages foreign investors to trust the u.s. [Businessmen shaking hands]
system often more deeply than they trust the systems of their home country
note that the SIPC mandate is not to protect bad stock picks bonds that don't
keep up with inflation or lousy advice from that slick-talking broker with [Broker with a cigar handing over tickets]
great hair in the NBA Tickets always ready for you and your family so if this
set of definitions or protection sounds familiar it should the SIPC is kissing
cousins with the FDIC or Federal Deposit Insurance Corporation because the FDIC [People with SIPC and FDIC briefcases for heads loved up]
is in fact sensitive to the protection of the value of securities you have
invested with it and if you care about all this crap well we have a whole opus [Shmoop video on the FDIC]
video on the FDI see - yeah good luck staying awake for
the whole thing [Guy falls asleep behind his computer]