Preliminary year-end figures for 2004 – which include an estimate for the last nine trading days of the year – indicate that turnover on the German exchanges will hit Euros 3.3 trillion in 2004. This is 3% up on 2003.
The total includes about Euros 2.6 trillion in equities, warrants and exchange-traded funds (2003: Euros 2.4 trillion) and about Euros 709 billion in fixed-income securities (2003: Euros 808 billion). March was the highest-turnover month in 2004, with Euros 370.6 billion in volume traded.
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 total equities turnover posted on the German stock exchanges in 2004, with Euros 993 billion euros in volume, increased by 9%t year-on-year (2003: Euros 911 billion). About Euros 929 billion of this total was traded in German equities (2003: Euros 860 billion), and Euros 64 billion in foreign equities (2003: Euros 51 billion).
The Xetra share in equities trading rose further again this year. In MDAX stocks Xetra further expanded its market share to 92% (2003: 90%; 2002: 84%; 2001: 74%). In DAX blue chips, the Xetra share remained at 97%(2003: 97%; 2002: 96%; 2001: 94%).
The Frankfurt Stock Exchange has further expanded its position as the leading retail stock exchange in 2004. 98% of trading in German equities takes place on Xetra and the floor of the FWB Frankfurter Wertpapierbrse (Frankfurt Stock Exchange). The Frankfurt floor is the most liquid market place and market leader with a share of 65% in retail trading on the floor in Germany. With Smart Trading, the retail offer of the Frankfurt Stock Exchange, the brokers on the Frankfurt floor guarantee the order execution without partial executions for trades up to Euros 10,000 in the DAX blue chips with maximum spreads of 0.3%, and for trades in TecDAX and MDAX stocks up to Euros 3,000 with maximum spreads of 1% from 9 am till 8 pm.