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According to order book statistics, trading volume on German stock exchanges in September increased year-on-year by around 7 percent to €147.1 billion (September 2005: €137.06 billion). Equities turnover showed disproportionately strong growth of around 9 percent to €136 billion (September 2005: €124.5 billion). €128.9 billion was attributable to German equities and €7.1 billion to foreign equities.
According to total turnover statistics, turnover was €374.4 billion in September, two percent up on September 2005. €339.2 billion was attributable to equities, warrants/certificates and exchange-traded funds, and €35.2 billion to bonds.
Around 8.3 million transactions were executed on Xetra in September, which represents an 11-percent increase year-on-year (September 2005: 7.5 million transactions).
In September, the Allianz AG equity was the most liquid equity on the DAX® based on the Xetra liquidity measure (XLM) with 5 bp for an order volume of €100,000. Merck topped the MDAX® with 14 bp. The most liquid equity-based ETF was the DAXEX with 5 bp. The most liquid foreign equity was Royal Dutch with 11 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.
The DAX security with the highest turnover in September was E.ON with €9.3 billion. Merck led the MDAX equities at €1 billion, while Balda topped the SDAX® equity index with €86.5 million, and Solarworld headed the TecDax® with €613.2 million. The ETF with the highest turnover remained the DAXEX at €1.5 billion.
DAX®, MDAX®, SDAX®, and TecDAX® are registered trademarks of Deutsche Börse AG.
