In the first six months of 2004, the total turnover on all German stock exchanges was EUR1.8 trillion – 15 percent more than in the same period of the previous year (H1 2003: EUR1.5 trillion).
Based on the aggregate statistics, a total volume of EUR252.3 was traded on the German stock exchanges in June – up 3 percent. This total includes EUR187.5 billion in equities, warrants and exchange traded funds, as well as EUR64.8 billion in fixed-income securities.
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, show that the German stock exchanges generated an equities turnover of EUR72.8 billion in June. Of this total, EUR 68.2 billion was traded in German equities, and EUR4.6 billion in foreign equities.
About 98 per cent of trading in German equities in June was posted on the Frankfurt Stock Exchange for Xetra and the floor. 82 percent of foreign equities were traded on the Frankfurt Stock Exchange. 5 million transactions were executed on Xetra in June. This puts the total number of transactions executed on Xetra in H1 2004 at 36.5 million – about 3 percent more than in H1 2003 (35.6 million).
According to the Xetra liquidity measure (XLM), Siemens AG was the most liquid DAX blue chip in June with 5 bp for an order volume of EUR100,000. Puma was the most liquid MDAX stock with 24 bp. The most liquid equity-based exchange traded fund was the DAX EX with 5 bp.
The most liquid foreign stock was Royal Dutch with 8 bp. XLM is a measure of liquidity in electronic securities trading based on implicit transaction costs and is calculated in basis points (1 bp = 0.01 percent) for every security in continuous trading, for a roundtrip in the Xetra order book.
Siemens was the DAX blue chip traded most on the Xetra in June at EUR5.7 billion. Puma was the top MDAX stock with EUR432.4 million. MPC was the leading SDAX stock with EUR46.1 million, and T-Online topped the TecDAX with EUR278.1 million. At EUR971.8 million, the DAXEX was again the exchange traded fund with the largest turnover.