Euros 269.9 billion euros was traded on the German stock exchanges in November 2003 – about 5 per cent higher than the Euros 257.3 billion a year ago.
The total consists of Euros 216 billion in equities, warrants and exchange-traded funds as well as Euros 53.9 billion in fixed-income securities.
According to the 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, a total of Euros 81.6 billion euros in volume was traded in equities on the German stock exchanges in November – about 24 per cent higher than the year before (November 2002: Euros 65.7 billion). Of this total, Euros 76.8 billion was traded in German equities, and Euros 4.8 billion in foreign equities.
Some 98 per cent of the volume traded in German equities in November was posted on Xetra and in trading on the floor of the Frankfurt Stock Exchange (FWB Frankfurter Wertpapierborse). In the foreign equities, 83 per cent of the volume was traded through Xetra and the Frankfurt trading floor. About 6 million transactions were executed on Xetra in November.
Siemens AG was the most liquid DAX blue chip in November based on the Xetra Liquidity Measure (XLM), with 7 bp for an order size of Euros 100,000. In the MDAX, Puma was highest with 31 bp. The most liquid equity-based exchange-traded fund was the DAX EX with 5 bp. XLM analyzes the liquidity in electronic securities trading, based on the implicit transaction costs for a roundtrip in the Xetra order-book, calculated in basis points (1 bp = 0.01 per cent) for every security in continuous trading.
In November, Siemens was the highest-volume DAX blue chip on Xetra with Euros 7.2 billion traded in its shares. Depfa Bank was the leading MDAX stock with Euros 596.9 million in volume traded; EM TV was the top SDAX equity with Euros 26.7 million in shares traded; and T-Online topped the list of TecDAX stocks with volume of Euros 400.6 million traded in its shares. The highest-turnover exchange-traded fund was again the DAXEX with some Euros 1.9 billion in volume, traded.