Based on the aggregate turnover statistics, a total volume of 266.2 billion euros was traded on the German stock exchanges in October – about 12 percent higher than the previous month’s level. The October total comprises 199.6 billion euros in equities, warrants and exchange-traded funds as well as 66.6 billion euros in fixed-income securities.
According to the order-book statistics, which are based on single counting of all transactions in the Xetra order book and broker-supported trading on the floor, the equities turnover on all German stock exchanges in October amounted to 77.9 billion euros – an increase of 11 percent compared with the month before. Volume of 73.5 billion euros was traded in German equities, and about 4.4 billion in foreign equities. In domestic shares, some 94 percent of the volume was traded through Xetra and another 4 percent in trading on the floor of the Frankfurt Stock Exchange (FWB Frankfurter Wertpapierbrse). In foreign shares, about 87 percent of the total volume was posted on Xetra and the Frankfurt trading floor.
A new record was set in October for the number of trades on Xetra, with 6.6 million trades (July 2002: 6.5 million trades). The Xetra share of trading in the DAX blue chips was about 96 percent. In the MDAX stocks, some 90 percent of the volume was traded on Xetra, about 65 percent of the SDAX volume and some 73 percent of the volume in Neuer Markt stocks.
Effective immediately, Deutsche Brse is publishing the most liquid equities based on the Xetra Liquidity Measure (XLM) every month for the DAX and MDAX. XLM analyzes the liquidity in electronic securities trading continuously and precisely and enables comparison between different equities based on the implicit transaction costs. XLM has been calculated since July 2002 in basis points (1 bp = 0.01 percent) for all securities in continuous trading for a round-trip in the Xetra orderbook. In October, E.ON was the most liquid stock in the DAX with 19 bp for an order size of 100,000 euros. In the MDAX, Deutsche Brse was highest with 38 bp.
Deutsche Bank was the most active DAX blue chip in October with 6.5 billion euros traded in its shares. Deutsche Brse was the leading MDAX stock with 417 million euros in volume traded. Medion topped the list of Neuer Markt stocks with 127 million euros in shares traded. In the SMAX (small-cap quality) segment, Rational ranked first with some 2.9 million euros in share turnover. The highest-volume exchange- traded fund in October was again the DAX EX with about 1.2 billion euros in turnover. Microsoft was the leading stock in the Xetra US Stars segment, with volume of 38 million euros traded in its shares; Nokia ranked highest among the Xetra European Stars, with 1 billion euros in volume traded.