According to the 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, a total of 81.6 billion euros in volume was traded in equities on the German stock exchanges in November - about 24 percent higher than the year before (November 2002: 65.7 billion euros). Of this total, 76.8 billion euros was traded in German equities, and 4.8 billion euros in foreign equities. Some 98 percent of the volume traded in German equities in November was posted on Xetra and in trading on the floor of the Frankfurt Stock Exchange (FWB Frankfurter Wertpapierbörse). In the foreign equities, 83 percent of the volume was traded through Xetra and the Frankfurt trading floor. About 6 million transactions were executed on Xetra in November.
Siemens AG was the most liquid DAX® blue chip in November based on the Xetra Liquidity Measure (XLM), with 7 bp for an order size of 100,000 euros. In the MDAX®, Puma was highest with 31 bp. The most liquid equity-based exchange-traded fund was the DAX EX with 5 bp. XLM analyzes the liquidity in electronic securities trading, based on the implicit transaction costs for a roundtrip in the Xetra order-book, calculated in basis points (1 bp = 0.01 percent) for every security in continuous trading.
In November, Siemens was the highest-volume DAX blue chip on Xetra with 7.2 billion euros traded in its shares. Depfa Bank was the leading MDAX stock with 596.9 million euros in volume traded; EM TV was the top SDAX® equity with 26.7 million euros in shares traded; and T-Online topped the list of TecDAX® stocks with volume of 400.6 million euros traded in its shares. The highest-turnover exchange-traded fund was again the DAXEX with some 1.9 billion euros in volume traded.
