In February €190.7 billion were turned over on Xetra and thus reaching previous year’s level. The number of trades executed on Xetra was up by 34 percent reaching 17.3 million transactions (February 2007: 12.9 million). On Xetra and the Frankfurt floor €188 billion were turned over in German equities and €8.4 billion in foreign shares. Roughly 98 percent of the transaction volume with German equities was executed at Börse Frankfurt. More than 84 percent of foreign equities were traded on Xetra and on the floor.
According to the Xetra liquidity measure (XLM), Siemens AG was the most liquid DAX® blue chip in February with 6 basis points (bp) for an order volume of €100,000. AWD Holding AG was the most liquid MDAX® stock with 11 bp. The most liquid ETF was the db-x-trackers II EONIA TR Index ETF with 1 bp. The most liquid foreign stock was Total S.A. with 14 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.
Deutsche Bank AG was the strongest DAX® stock on Xetra in February at €12.6 billion. Salzgitter AG was the top MDAX® stock at €1.9 billion while Demag Cranes AG led the SDAX® stock at €146 million and Q-Cells AG headed the TecDAX® at €1.6 billion. At €2.6 billion, the iShares DAX EX was once again the exchange-traded fund with the largest turnover.
On all stock exchanges in Germany €217 billion were traded in February according to orderbook turnover statistics – a decline by three percent compared year-on-year (February 2007: €224.7 billion). This total included €207.9 billion in equities, warrants and exchange-traded funds, as well as €9.6 billion in fixed-income securities.
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