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 98 billion euros in volume was traded on the German stock exchanges in July - 1.6 percent higher than the previous month's level (June 2003: 96.5 billion euros). Of this total, volume of 77.2 billion euros was traded in German equities (June 2003: 76.3 billion euros), and 5.4 billion euros in foreign equities (June 2003: 4.1 billion euros).
In July, some 98.2 percent of the volume traded in German equities was posted on Xetra and the floor of the Frankfurt Stock Exchange. In the foreign equities, 83.1 percent of the volume was posted on Xetra and the Frankfurt trading floor. A total of 6.2 million transactions were executed on Xetra in July (June 2003: 6 million transactions).
Siemens AG was the most liquid DAX® equity in July based on the Xetra Liquidity Measure (XLM), with 9 bp for an order size of 100,000 euros; in the MDAX®, Continental was highest with 32 bp. The most liquid equity-based exchange-traded fund was the DAXEX with 8 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.
Deutsche Telekom was the highest-volume DAX blue chip in July with 7.5 billion euros traded in its shares. Puma was the leading MDAX stock with 396 million euros in volume traded, Mannheimer Holding was the top SDAX® stock with 37.2 million euros in shares traded, and T-Online the top TecDAX® Werstock with volume of 270.1 million euros t raded in its shares. The highest-turnover exchange-traded fund was again the DAXEX with some 1.6 billion euros in volume traded.
