IMIC or Internet MIC (Market Identification Code) provides a mechanism for the identification of internet connected financial markets.
IMIC is a decentralized, internet-focused extension of the ISO's successful ISO1383 Market Identification Code (MIC) standard.
Features Unique to IMIC
- Democratic namespace allocation.
IMIC encourages the democratic allocation of market identification codes to any applying party and therefore encourages financial innovation. In this way, IMIC differs from its parent MIC standard, which fails to segregate traditional regulatory concerns for financial service provider oversight from the ability for newcomers and innovators to operate.