.jpg)
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, a total of 72.1 billion euros was traded in equities on the German stock exchanges in August - about 13 percent lower than the month before (July 2003: 82.5 billion euros). Of this total, 67.8 billion euros was traded in German equities, and 4.3 billion euros in foreign equities.
In August, about 98 percent of the volume traded in German shares was posted on Xetra and the floor of the Frankfurt Stock Exchange (FWB Frankfurter Wertpapierbörse). In foreign equities, 82 percent of the volume was posted on Xetra and the Frankfurt trading floor. A total of 5.5 million transactions were executed on Xetra in August (July 2003: 6.2 million transactions).
Siemens AG was the most liquid equity in the DAX® in August based on the Xetra Liquidity Measure (XLM), with 8 bp for an order size of 100,000 euros; in the MDAX®, Beiersdorf was highest with 29 bp. The most liquid equity-based exchange-traded fund was the DAX EX with 7 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.
Allianz was the highest-volume DAX blue chip on Xetra in August with 7 billion euros traded in its shares. Continental was the leading MDAX stock with 412 million euros in volume traded, Comdirect was the top SDAX® stock with 17 million euros in shares traded, and T-Online the top TecDAX® stock with volume of 264 million euros traded in its shares. The highest-turnover exchange-traded fund was again the DAXEX with some 1.4 billion euros in volume traded.
