Based on the aggregate statistics, the €339 billion total volume traded on all German stock exchanges in October was 35 percent higher than last year’s level (October 2004: €251.5 billion). This total included €300 billion in equities, warrants and exchange traded funds, as well as €39 billion in fixed-income securities.
In October, 97 percent of transactions with German equities were executed on Xetra and on the floor of the Frankfurt Stock Exchange (FWB). In foreign equities, 75 percent were traded on Xetra and the floor of the Frankfurt Stock Exchange. 7.5 million transactions were executed on Xetra in October – an increase of 30 percent year-on-year (October 2004: 5.7 million transactions).
According to the Xetra liquidity measure (XLM), Allianz was the most liquid DAX® blue chip in October with 4 bp for an order volume of €100,000. Puma was the most liquid MDAX® stock with 19 bp. The most liquid equity-based ETF was the DAXEX with 4 bp. The most liquid foreign stock was Unilever with 11 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 (1 bp = 0.01 percent) for a roundtrip in the Xetra order book.
Allianz was the highest-turnover DAX stock on Xetra in October with €9.7 billion. Deutsche Postbank was the top MDAX stock with €615.4 million while Vivacon led the SDAX® with €63.5 million and Solarworld headed the TecDAX® with €548.5 million. At €2.4 billion, the DAXEX was the exchange traded fund with the largest turnover in October.
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