The number of transactions executed on Xetra in December 2008 was 29% up compared to December 2007. The trading reached 15.5 million transactions.
German equities reached €89.2 billion On Xetra and the Frankfurt floor and €11.1 billion in foreign shares. 95% of the transaction volume with German equities and 86% of foreign equities were traded on Xetra and on the floor at Brse Frankfurt. Order book turnover on Xetra recorded €94.3 billion (December 2007: €142.3 billion), down by 34%.
According to the Xetra liquidity measure (XLM), Deutsche Telekom AG was the most liquid DAX blue chip in December with 13 basis points (bp) for an order volume of €100,000. Altana AG was the most liquid MDAX stock with 29 bp. The most liquid ETF was db x-trackers ETF II-EONIA T.R. 1C with 0.5 bp. The most liquid foreign stock was Royal Dutch Shell with 22 bp. XLM measures liquidity in electronic securities trading on the basis of the implicit transaction costs. It is expressed in basis points (1 bp = 0.01 percent); a low XLM denotes high liquidity in a security.
Siemens AG was the strongest DAX stock on Xetra in December at €5.9 billion. Salzgitter AG was the top MDAX stock at €733.1 million, while Gerresheimer AG led the SDAX at €83.6 million and Q-Cells AG headed the TecDAX at €925.1 million. At €1.0 billion, the iShares DAX was the exchange-traded fund with the largest turnover.
This total result in Germany includes €109.3 billion in equities, warrants and exchange-traded funds, as well as €12.7 billion in fixed-income securities. The number of trades at all exchanges added up to 26.6 million (December 2007: 20.1 million) which is an increase by 32%.
L.D.