.jpg)
Based on the total turnover statistics, a total volume of €361.8 billion was traded on all stock exchanges in Germany in December 2006 – a rise of 16 percent year-on-year (December 2005: €313 billion). This total included €327.1 billion in equities, warrants and exchange-traded funds, as well as €34.7 billion in fixed-income securities. Thus, more than €5 trillion were traded on all German stock exchanges during 2006 (2005: €3.8 trillion) – around €4.6 trillion of which in equities, warrants and exchange-traded funds, along with €460 billion in fixed-income securities.
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 stock exchanges in Germany generated an equities turnover of €129 billion in December compared with €101.6 billion in 2005 (+ 27 percent). German equities accounted for €120.7 billion of this total, with foreign equities comprising €8.2 billion.
In December 2006, more than 96 percent of transactions with German equities were executed on Xetra and on the floor of the Frankfurt Stock Exchange (FWB). In foreign equities, almost 76 percent were traded on Xetra and the floor of the Frankfurt Stock Exchange. Approximately 8 million transactions were executed on Xetra in December 2006 – an increase of 30 percent more year-on-year (December 2005: 6.1 million).
According to the Xetra liquidity measure (XLM), Deutsche Bank AG was the most liquid DAX® blue chip in December with 4.4 basis points (bp) for an order volume of €100,000. Merck was the most liquid MDAX® stock with 16.1 bp. The most liquid equity-based ETF was the DAX EX with 4.3 bp. The most liquid foreign stock was ING Groep with 10.6 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 December at €7.5 billion. Salzgitter was the top MDAX stock at €814 million while Klöckner&Co. led the SDAX® stock at €133 million and Solarworld headed the TecDAX® at €371.5 million. At €1.4 billion, the DAX EX was once again the exchange-traded fund with the largest turnover.
