In March, €100.9 billion were turned over on Xetra and on the floor at Brse Frankfurt – a decrease of some 48% year-on-year (March 2008: €194.5 billion). Of the €100.9 billion turnover €93.8 billion were traded on Xetra, a decrease by some 49% year-on-year (March 2008: €185.6 billion) and €7.2 billion on the floor (March 2008: €8.9 billion).
German equities accounted for €87.6 billion, while €9.3 billion were turned over in foreign equities. Roughly 97% of the transaction volume with German equities was executed on Xetra and the floor at Brse Frankfurt. 91% of foreign equities were traded on Xetra and on the floor.
In the entire month 15.7 million transactions were executed on Xetra, a decrease of almost 8% year-on-year (March 2008: 16.9 million). According to the Xetra liquidity measure (XLM), Bayer AG was the most liquid DAX blue chip in March with 13 basis points (bp) for an order volume of €100,000. Sdzucker AG was the most liquid MDAX stock with 70 bp.
The most liquid ETF was the db-x-trackers II EONIA T.R. 1C with 0.3 bp. The most liquid foreign stock was Royal Dutch Shell with 21 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 March at €7.3 billion. Fresenius SE was the top MDAX stock at €397 million, while MVV Energie AG led the SDAX stocks at €27 million and Q-Cells SE headed the TecDAX at €641 million. At €1.4 billion, the iShares DAX was the exchange-traded fund with the largest turnover.
On all stock exchanges in Germany €119.2 billion were traded in March according to orderbook turnover statistics – a decrease of 43% compared year-on-year (March 2008: €210.4 billion). This total includes €104.3 billion in equities, warrants and exchange-traded funds, as well as €14.9 billion in fixed-income securities.
D.C.