In July 2008, the number of trades executed on Xetra reached more than 19 million transactions – up 21% compared to July 2007. Order book turnover on Xetra recorded 193.2 billion, down by 13%. On Xetra and the Frankfurt floor 188.7 billion were turned over in German equities and 9.2 billion in foreign shares.
Roughly 98% of the transaction volume with German equities and around 87% of foreign equities were traded on Xetra and on the floor at Brse Frankfurt.
According to the Xetra liquidity measure (XLM), E.ON AG was the most liquid DAX blue chip in July with 6 basis points (bp) for an order volume of 100,000. K + S AG was the most liquid MDAX stock with 24 bp. The most liquid ETF was the Lyxor ETF EURO CASH with 1 bp. The most liquid foreign stock was Royal Dutch Shell 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%); a low XLM denotes high liquidity in a security.
Deutsche Bank was the strongest DAX stock on Xetra in July at 12 billion. K+S AG was the top MDAX stock at 4.9 billion while Air Berlin AG led the SDAX stock at 82 million and Q-Cells AG headed the TecDAX at 1.1 billion.
At 2.4 billion, the iShares DAX was once again the exchange-traded fund with the largest turnover. On all stock exchanges in Germany 218 billion were traded in July according to order book turnover statistics a decline by 16% compared year-on-year. This total included 207.9 billion in equities, warrants and exchange-traded funds, as well as 10.6 billion in fixed-income securities. The number of trades at all exchanges added up to 28.3 million, which is a 7% decrease.