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 €195.9 billion in January compared with €144.5 billion in 2006 (+ 35,3 percent). German equities accounted for €183.9 billion of this total, with foreign equities comprising €11.9 billion.
In January 2007, more than 97 percent of transactions with German equities were executed on Xetra and on the floor of the Frankfurt Stock Exchange (FWB). In foreign equities, almost 76,4 percent were traded on Xetra and the floor of the Frankfurt Stock Exchange. Approximately 12 million transactions were executed on Xetra in January 2006 – an increase of 40 percent more year-on-year (January 2006: 8,8 million).
According to the Xetra liquidity measure (XLM), Allianz AG was the most liquid DAX® blue chip in December with 4 basis points (bp) for an order volume of €100,000. Puma AG was the most liquid MDAX® stock with 13 bp. The most liquid equity-based ETF was the DAX EX with 4 bp. The most liquid foreign stock was ING Groep with 10 bp. XLM measures liquidity in electronic securities trading on the basis of the implicit transaction costs. It is expressed in basis points (1 bp = 0.01 percent); a low XLM denotes high liquidity in a security.
Siemens AG was the strongest DAX stock on Xetra in January at €12.5 billion. Merck KG was the top MDAX stock at €1,4 billion while Klöckner&Co. AG led the SDAX® stock at €315 million and Solarworld AG headed the TecDAX® at €774 million. At €2.3 billion, the DAX EX was once again the exchange-traded fund with the largest turnover.
DAX®, MDAX®, SDAX®, and TecDAX® are registered trademarks of Deutsche Börse AG.
