Deutsche Börse Xetra is the reference market for trading in DAX® listed blue chips. No other exchange in the world achieves greater turnover at fairer market prices in these securities. With regard to DAX listings, Xetra even has nearly 70 per cent market share throughout Europe.
The following table shows the liquidity of DAX listed blue chips in Xetra trading. It is based on the Xetra Liquidity Measure (XLM), which captures the liquidity of traded shares using implicit transaction costs, thus providing investors with a useful tool to objectively estimate the cost of trading. The XLM also allows for comparison and transparent analysis of individual securities' liquidity.
DAX shares with related XLM
| Instrument | ISIN | Roundtrip | Buy | Sell |
|---|---|---|---|---|
| SIEMENS AG NA O.N. | DE0007236101 | 3.3 | 1.6 | 1.6 |
| ALLIANZ SE NA O.N. | DE0008404005 | 3.4 | 1.6 | 1.7 |
| SAP SE O.N. | DE0007164600 | 3.8 | 1.9 | 1.9 |
| DEUTSCHE BANK AG NA O.N. | DE0005140008 | 4.3 | 2.2 | 2.1 |
| MERCEDES-BENZ GRP NA O.N. | DE0007100000 | 4.3 | 2.1 | 2.2 |
| SIEMENS ENERGY AG NA O.N. | DE000ENER6Y0 | 4.4 | 2.2 | 2.2 |
| BASF SE NA O.N. | DE000BASF111 | 5.2 | 2.5 | 2.7 |
| E.ON SE NA O.N. | DE000ENAG999 | 5.3 | 2.6 | 2.7 |
| RHEINMETALL AG | DE0007030009 | 5.5 | 2.7 | 2.8 |
| INFINEON TECH.AG NA O.N. | DE0006231004 | 5.5 | 2.8 | 2.8 |
| DT.TELEKOM AG NA | DE0005557508 | 5.6 | 2.7 | 2.8 |
| BAYER AG NA O.N. | DE000BAY0017 | 5.6 | 2.7 | 2.9 |
| ADIDAS AG NA O.N. | DE000A1EWWW0 | 5.7 | 2.9 | 2.7 |
| AIRBUS SE | NL0000235190 | 5.9 | 2.9 | 2.9 |
| MUENCH.RUECKVERS. NA O.N. | DE0008430026 | 5.9 | 3.0 | 2.9 |
| COMMERZBANK AG | DE000CBK1001 | 6.2 | 3.1 | 3.1 |
| DAIMLER TRUCK HLDG NA ON | DE000DTR0CK8 | 6.3 | 3.0 | 3.3 |
| VOLKSWAGEN AG VZO O.N. | DE0007664039 | 6.3 | 3.1 | 3.2 |
| RWE AG INH O.N. | DE0007037129 | 6.4 | 3.3 | 3.1 |
| DEUTSCHE POST AG NA O.N. | DE0005552004 | 6.5 | 3.2 | 3.3 |
| BAY.MOTOREN WERKE AG ST | DE0005190003 | 6.7 | 3.4 | 3.3 |
| DEUTSCHE BOERSE NA O.N. | DE0005810055 | 7.1 | 3.5 | 3.6 |
| HENKEL AG+CO.KGAA VZO | DE0006048432 | 7.1 | 3.5 | 3.7 |
| FRESENIUS SE+CO.KGAA O.N. | DE0005785604 | 7.2 | 3.6 | 3.6 |
| HEIDELBERG MATERIALS O.N. | DE0006047004 | 8.2 | 4.1 | 4.0 |
| VONOVIA SE NA O.N. | DE000A1ML7J1 | 8.2 | 4.1 | 4.1 |
| BEIERSDORF AG O.N. | DE0005200000 | 8.4 | 4.1 | 4.3 |
| FRESEN.MED.CARE AG INH ON | DE0005785802 | 8.4 | 4.2 | 4.1 |
| MERCK KGAA O.N. | DE0006599905 | 9.6 | 4.8 | 4.8 |
| QIAGEN NV EO -,01 | NL0015002SN0 | 9.8 | 5.0 | 4.7 |
| MTU AERO ENGINES NA O.N. | DE000A0D9PT0 | 10.0 | 5.0 | 5.0 |
| CONTINENTAL AG O.N. | DE0005439004 | 10.1 | 5.0 | 5.1 |
| SIEMENS HEALTH.AG NA O.N. | DE000SHL1006 | 10.3 | 5.2 | 5.1 |
| SYMRISE AG INH. O.N. | DE000SYM9999 | 10.4 | 5.0 | 5.4 |
| ZALANDO SE | DE000ZAL1111 | 11.1 | 5.2 | 5.9 |
| HANNOVER RUECK SE NA O.N. | DE0008402215 | 12.0 | 6.1 | 5.9 |
| BRENNTAG SE NA O.N. | DE000A1DAHH0 | 13.5 | 6.9 | 6.5 |
| HOCHTIEF AG | DE0006070006 | 14.8 | 7.4 | 7.3 |
| SCOUT24 SE NA O.N. | DE000A12DM80 | 15.1 | 7.6 | 7.5 |
| GEA GROUP AG | DE0006602006 | 15.2 | 7.4 | 7.8 |
Deutsche Börse provides the XLM on DAX® listed blue chips for the last trading day on a daily basis.
The XLM is given in basis points (100 basis points = 1 per cent) in relation to the relative market impact costs for the so-called roundtrip (simultaneous purchase and sale of a position) for a given order volume. An XLM of 10 basis points and an order volume of €25,000, for example, mean that the market impact costs for the purchase and sale of this share totalled €25.
Detailed explanations can be found in the article “The Market Impact – Liquidity Measure in Electronic Securities Trading”.
Market Status XETR ⓘ
XETR
The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.
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