According to the orderbook statistics, which are based on single counting of all transactions in the order-book of Xetra and broker-supported trading on the floor, the turnover in equities on the German stock exchanges was about 66 billion euros in May (April 2003: 72 billion euros). Volume of 62.5 billion euros was traded in German equities, 3.6 billion euros in foreign equities.
In May, 98.4 percent of the volume traded in German equities was posted through Xetra and on the trading floor of the Frankfurt Stock Exchange (FWB Frankfurter Wertpapierbörse). In the foreign equities, 82 percent of the turnover was posted through Xetra and on the Frankfurt trading floor. A total of some 6 million trades were executed on Xetra in May, 37 percent more than for the same month the year before (May 2002 4.3 million trades).
Siemens was the most liquid equity in the DAX® in May based on the Xetra liquidity measure (XLM), with 11 bp for an order size of 100,000 euros, in the MDAX® Buderus was the most liquid with 10 bp. The highest-liquidity equity-based exchange-traded fund was the DAX EX with 9 bp. XLM analyses the liquidity in electronic securities trading based on the implicit 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 May was Siemens with 6.2 billion euros. In the MDAX stocks, Wella was highest with 245 million euros in volume traded and in the TecDAX® stocks T-Online was highest with 199 million euros in volume. The highest-turnover exchange-traded fund was again the DAX EX with some 1.5 billion euros in turnover.
