Imported from previous forum
I am trying to map the execution venues for our FX flow and there are a number of these that do not have defined MIC codes.
Wondered if anyone else had come across this and started to use a non registered MIC code format. Would like to try and be consistent if there is already a convention in place.
We are planning to follow up with the venues who do not have registered MIC codes to encourage them to apply for them so that there is much better consistency in the future for FX.
Please do encourage the venue to register MIC values with ISO. Point them to the website https://www.iso20022.org/10383/iso-10383-market-identifier-codes which includes the registration procedure. We are certainly trying to avoid non-registered MICs as they are very hard to get rid of once they are established. Making them globally consistent further reduces the urgence to change them to “real” MICs.