With trading volumes declining overall in this segment on the German stock exchanges, the rise in Xetra trading is at the expense of trading on the floor. In the last 10 weeks prior to the launch of Xetra US Stars, the market share for trading on the floor of the Frankfurt stock exchange was averaging 68 percent, then dropped to about 51 percent when the segment was launched; during the same period, the average 27 percent share held by the regional exchanges initially declined to about 23 percent during the first week of trading and then to 21 percent for the second week of trading. Altogether, the Frankfurt market share has increased from about 73 to 78 percent.
Dr. Roland Folz, member of the Executive Board of DAB bank in Munich, regards the Xetra US segment as a step forward in exchange-based trading of U.S. equities: "Our customers have the opportunity to trade U.S. equities at the same conditions as the traders in the big banks. In combination with the "Xetra Live" information screen, orders can be followed at home on the screen in real time every step of the way, from the time they are placed to their execution. This makes trading in American shares even more transparent."
Deutsche Börse's Xetra US segment contains all of some 200 U.S. stocks in the indexes Dow Jones Industrial Average, S&P 100, Nasdaq 100 and Global Titans 50, the so-called "Xetra US Stars".
