The German stock exchanges generated an equities turnover of EUR75.7 billion in July – up by around 4 percent month-on-month (June 2004: EUR72.8 billion). EUR 70.9 billion of this total relates to trading in German equities, with foreign equities accounting for EUR 4.8 billion.
Based on the aggregate statistics, a total volume of EUR 244.2 billion was traded on the German stock exchanges in July. This total includes EUR193.3 billion in equities, warrants and exchange traded funds, as well as EUR50.9 billion in fixed-income securities.
Around 97 percent of volume traded in German equities in July was posted on the Frankfurt Stock Exchange for Xetra and the floor. 82% of foreign equities were traded on the Frankfurt Stock Exchange. 5.3 million transactions were executed on Xetra in July – up five percent month-on-month (June 2004: 5 million).
According to the Xetra liquidity measure (XLM), Siemens AG was the most liquid equity on the DAX in July with 5 bp for an order volume of EUR100,000. Puma was the most liquid MDAX stock with 22 bp. The most liquid equity-based exchange traded fund was the DAX EX with 5 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.
Siemens was the highest-volume DAX blue chip on Xetra in July with EUR5.9 billion in shares traded. Puma was the top MDAX stock with EUR716.5 million. Indus was the leading SDAX stock with EUR12.5 million, and T-Online topped the TecDAX with EUR228.1 million. At EUR1.2 billion, the DAXEX was once again the exchange traded fund with the largest turnover.