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 was about 72 billion euros in April. The turnover is thus stable (March 2003: 73.7 billion euros). In German equities, 68.3 billion euros was traded, in foreign equities, 3.6 billion euros.
In April, 98.5 percent of the trading in German equities was posted on Xetra and the trading floor of the Frankfurt Stock Exchange (FWB). In the foreign equities, 83 percent of the turnover was accounted for by trading on Xetra and on the Frankfurt trading floor. A total of 6.3 million trades were executed on Xetra in April ? 50 percent more transactions than in the same month last year (April 2002: 4.2 million trades).
Deutsche Bank was the most liquid equity in the DAX® in April based on the Xetra liquidity measure (XLM), with 13 bp for an order size of 100,000 euros, in the MDAX® Wella was highest with 23 bp. The highest-liquidity equity-based exchange-traded fund was the DAX EX with 10 bp. XLM analyses the liquidity in electronic securities trading based on the implicitly transaction costs and is calculated for all securities in continuous trading in basis points (1 bp = 0.01 percent) for the roundtrip in the Xetra orderbook.
The highest-turnover DAX equity on Xetra in April was Allianz with 9 billion euros. In the MDAX stocks, Wella was highest with 250.4 million euros in volume traded in its shares and in the TecDAX® stocks T-Online was highest with 185.8 million euros in volume. The highest-turnover exchange-traded fund was again the DAX EX with 1.5 billion euros in turnover.
