According to the orderbook statistics, which are based on single counting of all transactions in the orderbook of Xetra and broker-supported trading on the floor, the total turnover in equities on the German stock exchanges in February was 56.5 billion euros, which corresponds to a 21 percent decline in turnover from the previous month's level (January 2003: 71.8 billion euros). Volume of 53.5 billion euros was traded in German equities, and 3.0 billion euros in foreign equities. A total of 4.9 million trades were posted on Xetra in February - about 17 percent more than the year before (February 2002: 4.2 million trades).
In February, 99 percent of the trading in German equities was posted on Xetra and the floor of the Frankfurt Stock Exchange (FWB Frankfurter Wertpapierbörse). In the foreign equities, some 81 percent of the volume was posted on Xetra and the Frankfurt trading floor.
Deutsche Telekom was the most liquid DAX blue chip in February based on the Xetra Liquidity Measure (XLM), with 16 bp for an order size of 100,000 euros; in the MDAX, Beiersdorf was highest with 64 bp. The most liquid exchange-traded fund was the DAX EX with 11 bp. XLM analyzes the liquidity in electronic securities trading based on the implicit transaction costs and is calculated in basis points (1 bp = 0-01 percent) for all securities in continuous trading, for a roundtrip in the Xetra orderbook.
Deutsche Telekom was the most active DAX blue chip in February with 7.9 billion euros traded in its shares. Epcos was the leading MDAX stock with 123 million euros in volume traded. The highest-volume exchange-traded fund was again the DAX EX with 1 billion euros in turnover.
