100 days after MiFID has come into force, Deutsche Boerse draws a positive interim balance: The electronic trading system Xetra benefited from order shifts resulting from the directive and expanded its market share in German blue chips trading in January to approximately 99%.
The 2007 annual average market share was 97%. Thus, Xetra underscores its relevance as a MiFID best execution platform with the highest liquidity and best prices.
The platform for bilateral exchange-based bank trading, Xetra BEST, posted record turnovers in the last three months. In January, 183,000 transactions were executed with 1.6 billion being turned over, following 105,000 in November 2007 with 1.1 billion turnover.
Deutsche Boerse has acquired around 60 European customers for the MiFID OTC post-trade transparency service thus far. The service covers all instruments that are subject to post-trading transparency requirements Europe-wide, and offers optional automatic delay for large transactions, in accordance with MiFID.
In line with MiFID, investment firms are required to disclose their off-exchange purchases and sales of equities in real-time on the market.