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Based on the aggregate statistics, a total volume of €305.7 billion was traded on all German stock exchanges in March - a rise of three percent mont-on-month (February 2005: €297 billion). This total included €246.9 billion in equities, warrants and exchange traded funds, as well as €58.8 billion in fixed-income securities.
In March, around 97 percent of transactions with German equities were executed on Xetra and on the floor of the Frankfurt Stock Exchange (FWB). In foreign equities, 78 percent were traded on Xetra and the floor of the Frankfurt Stock Exchange. 6.6 million transactions were executed on Xetra in March (February 2005: 6.5 million).
According to the Xetra liquidity measure (XLM), Siemens was the most liquid DAX® blue chip in March with 4 bp for an order volume of €100,000. Puma was the most liquid MDAX® stock with 13 bp. The most liquid equity-based ETF was the DAXEX with 3 bp. The most liquid foreign stock was Royal Dutch with 7 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.
Deutsche Telekom was the highest-turnover DAX stock on Xetra in March with €7.8 billion. Puma was the top MDAX stock with €724.5 million while EM TV led the SDAX® stock with €71.5 million and Solarworld headed the TecDAX® with 233.4 million. At €1.3 billion, the DAXEX was the exchange traded fund with the largest turnover in March.
DAX®, MDAX®, SDAX® and TecDAX® are registered trademarks of Deutsche Börse AG.
