Order book statistics, which are based on single counting of all transactions in the order book of Xetra and broker-supported trading on the floor, show that the German stock exchanges generated an equities turnover of €144.5 billion in January (January 2005: €91.5 billion). German equities accounted for €133.5 billion of this total, with foreign equities comprising €11.1 billion.
In January, around 96.7 percent of transactions with German equities were executed on Xetra and on the floor of the Frankfurt Stock Exchange (FWB). In foreign equities, 76.0 percent were traded on Xetra and the floor of the Frankfurt Stock Exchange. 8.7 million transactions were executed on Xetra in January – 37 percent more year-on-year (January 2005: 6.4 million).
According to the Xetra liquidity measure (XLM), Allianz was the most liquid DAX® blue chip in January with 4 bp for an order volume of €100,000. Postbank was the most liquid MDAX® stock with 17 bp. The most liquid equity-based ETF was the DAXEX with 4 bp. The most liquid foreign stock was Royal Dutch with 10 bp. XLM is a measure of liquidity in electronic securities trading based on the implicit transaction costs and is calculated for securities in continuous trading in basis points (1 bp = 0.01 percent) for a roundtrip in the Xetra order book.
Allianz was the strongest DAX stock on Xetra in January at €9.9 billion. Merck was the top MDAX stock at €649 million, while Vivacon led the SDAX® stock at €131 million and Q-Cells headed the TecDAX® at €736 million. At €2.3 billion euros, the DAXEX was once again the exchange traded fund with the largest turnover.
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