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Internet Market Identification Code (IMIC)

Internet Market Identification Codes (IMIC) provide a mechanism for the open 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

  • 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 requirement for newcomers and innovators to operate.

Status

  • Publication status: Published.
  • Usage: Not implemented in the wild.
  • Drawbacks: The potential maintenance work of keeping up with market registration and dissolution is rather tedious, therefore a long term body capable of undertaking this work must be sought. In lieu of such a body, we accept pull requests!
  • Overall status: Ready for a maintenance body or community of contributors to breathe life in to.

Building

To build a new draft release, simply make.

Revisions

History

Original work toward publication was performed by Walter Stanish and sponsored by Payward Inc. (Kraken).

Later work porting to Github, updating codepoints and incorporating feedback was performed by Walter Stanish independently.

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Internet Market Identification Code (IMIC)

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