The German stock exchanges generated an equities turnover based on the order book statistics of EUR111.7 billion in July – an increase of 48 percent year-on-year (July 2004: EUR75.7 billion).
German equities accounted for EUR104.7 billion of this total, with foreign equities comprising EUR7 billion. The order book statistics show all transactions in the order book of Xetra and broker-supported trading on the floor in single counting.
Based on the aggregate statistics, the EUR331 billion total volume traded on all German stock exchanges in July was 36 percent higher than last year’s level (July 2004: EUR244 billion). This total included EUR288.6 billion in equities, warrants and exchange traded funds, as well as EUR42.5 billion in fixed-income securities.
In July, 97 percent of transactions with German equities were executed on Xetra and on the floor of the Frankfurt Stock Exchange (FWB). In foreign equities, 77 percent were traded on Xetra and the floor of the Frankfurt Stock Exchange. 7.1 million transactions were executed on Xetra in July-an increase of 35 percent year-on-year (July 2004: 5.3 million transactions).
According to the Xetra liquidity measure (XLM), Allianz was the most liquid DAX blue chip in July with 4 bp for an order volume of EUR100,000. HeidelbergCement was the most liquid MDAX stock with 11 bp. The most liquid equity-based ETF was the DAXEX with 3 bp. The most liquid foreign stock was Total with 10 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 for a roundtrip in the Xetra order book.
Deutsche Telekom was the highest-turnover DAX stock on Xetra in July with EUR7.9 billion. Puma was the top MDAX stock with EUR1.3 billion while Vivacon led the SDAX with EUR71.6 million and Mobilcom headed the TecDAX with 235.4 million. At EUR1.7 billion, the DAXEX was the exchange traded fund with the largest turnover in July.