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| | IT-Analysis.com - You say MIC, I say RIC...what's in a name? |
 | | Industry trade groups working on the development of common reference data codes for straight-through processing of securities, recently announced that they are backing the London Stock Exchange's efforts to extend the SEDOL numbering system using Swift-based market identifier codes (MICs), as a viable global option for unique instrument identification. |
 | | The marketplace is gradually moving towards shorter clearing and settlement cycles, same day affirmation, and end to end straight through processing (STP), these challenges have brought reference data, symbology and UII to the forefront of the financial information industry's agenda. |
 | | The core problem is that there are too many security identification numbers (some are industry level such as ISIN, SEDOL, CUSIP, and other are proprietary vendor identifiers such as RIC, FTID, Bloomberg ID), but none that uniquely identify all attributes required to enable a trade to be processed with precision and minimal rework or re-identification. |
| www.it-analysis.com /content.php?articleid=10962 (745 words) |
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