Equities turnover on all German stock exchanges rose considerably in August 2006 compared with the previous year. Order book statistics, which are based on single counting of all transactions in the order book of Xetra and broker-supported trading on the floor, show that the German stock exchanges generated an equities turnover of €128.3 billion in August, an increase of 17% year-on-year (August 2005: €109.3 billion). German equities accounted for €121.4 billion of this total, with foreign equities comprising €6.9 billion.
Based on the total turnover statistics, a total volume of €362.6 billion was traded on all German stock exchanges in August 2006 (August 2005: €330 billion). This total included €324.3 billion in equities, warrants and exchange traded funds, as well as €38.3 billion in fixed-income securities.
In August, 8.5 million transactions were executed on Xetra, 18% more year-on-year (August 2005: 7.2 million).
According to the Xetra liquidity measure (XLM), Allianz was the most liquid DAX blue chip in August with 5 bp for an order volume of €100,000. Deutsche Postbank was the most liquid MDAX stock with 14 bp. The most liquid equity-based ETF was the DAXEX with 5 bp. The most liquid foreign stock was Royal Dutch 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 (1 bp = 0.01 percent) for a roundtrip in the Xetra order book.
Deutsche Telekom was the strongest DAX stock on Xetra in August at €9.1 billion. Deutsche Postbank was the top MDAX stock at €864.1 million, while Fluxx led the SDAX stocks at €75.1 million and Solarworld headed the TecDAX at €695.8 million. At €1.8 billion, the DAXEX was once again the exchange traded fund with the largest turnover.