The MIC is a collateralised section of the e-MID euro Interbank Deposit Market with maturities from ON to 1Y.
The MIC is based on the MIC Guarantee System managed by CC&G.
Trades are performed in a completely anonymous form, with protection from counterparty credit risk.
Who can join
EU and non EU banks can participate, with the limit of one member for each banking group. In particular:
- Banks who can participate in the New MIC Guarantee System managed by CC&G.
- Banks who participate in the central custody service of Monte Titoli directly or through a single intermediary
- Banks having access to direct or indirect automatic settlement of contracts in Target2
Further requirements apply to non-EU banks.