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Based on the orderbook statistics, including trades in the Xetra orderbook and specialist supported floor trading, trading on all German stock exchanges was up 45%, reaching €172.8 billion compared with €118.6 billion in the corresponding month last year. Orderbook trading in German stocks represented €150.9 billion with €9.6 billion trading in foreign stocks. In June around 9.6 million trades were executed on Xetra.
June 2006 was the first full month since the launch of a dedicated fund trading segment for retail investors on the Frankfurt Stock Exchange with a trading volume of €249 million. Deutsche Börse’s average market share of on-exchange mutual fund trading in June represented 22.3% of trading on all German exchanges. During this month a peak daily market share of 33% was reached.
According to the Xetra liquidity measure (XLM) Schering was the most liquid DAX® stock with 3 bp for an order volume of €100,000. Puma was the most liquid MDAX® stock with 19bp. The most liquid equity-based ETF was the Lyxor DAX® ETF with 5bp. The most liquid foreign stock was Royal Dutch with 12 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 (1bp=0.01 percent) for a roundtrip in the Xetra order book.
Deutsche Bank was the most actively traded DAX® stock on Xetra in June at €10.6 billion. Merck was the top MDAX® stock at €1.0 billion, while Sixt led the SDAX® at €72.9 million and Solarworld headed the TecDAX® at €899.6 million. At €2.7 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.
