Deutsche Börse: Turnover On German Stock Exchanges 33 Percent Up Year-On Year - €335 Billion In Turnover On German Stock Exchanges In June - More Transactions On Xetra In H1 2005 - Exchange Traded Funds Turnover Increased 75 Percent Year-On Year

In June, turnover in equities, bonds, warrants and exchange traded funds increased 33 percent year-on year, based on the aggregate statistics. Turnover accounted for €335 billion (June 2004: €252 billion). June total turnover included €267 billion in equities, warrants and exchange traded funds, as was well as €67 billion in fixed-income securities trading. In the first six months, exchange turnover accounted for €1.78 trillion, compared to €1.77 trillion in the first six months 2004.

The 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 the German stock exchanges generated an equities turnover of €105 billion in June –45 percent up year-on-year (June 2004: €72.8 billion). Of this total, €99 billion was traded in German equities, and €6 billion in foreign equities.

About 97 percent of trading in German equities in June was posted on the Frankfurt Stock Exchange for Xetra and the floor. 76 percent of foreign equities were traded on the Frankfurt Stock Exchange. 6.7 million transactions were executed on Xetra in June. This puts the total number of transactions executed on Xetra in H1 2005 at 38.8 million – 6.4 percent more than in H1 2004 (36.5 million).

Turnover in Exchange Traded Funds increased 75 percent year-on year, accounting for €4.1 billion (June 2004: €2.3 billion). June turnover in these products reached its second best result (highest monthly turnover: February 2005: €4.9 billion)

According to the Xetra liquidity measure (XLM), Siemens was the most liquid DAX® blue chip in June with 4 bp for an order volume of €100,000. Heidelberger Zement was the most liquid MDAX® stock with 13 bp. The most liquid equity-based exchange traded fund was the DAX EX with 3 bp. The most liquid foreign stock was Royal Dutch with 8 bp. XLM is a measure of liquidity in electronic securities trading based on implicit transaction costs and is calculated in basis points (1 bp = 0.01 percent) for every security in continuous trading, for a roundtrip in the Xetra order book.

Deutsche Telekom was the DAX blue chip traded most on the Xetra in June at €8.3 billion. Heidelberger Zement was the top MDAX stock with €902 million. EM.TV was the leading SDAX® stock with €64 million, and Solarworld topped the TecDAX® with €341million. At €1.5 billion, the DAXEX was again the exchange traded fund with the largest turnover.

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