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 |
|---|---|---|---|---|
| SAP SE O.N. | DE0007164600 | 3.6 | 1.8 | 1.7 |
| ALLIANZ SE NA O.N. | DE0008404005 | 3.6 | 1.8 | 1.8 |
| SIEMENS ENERGY AG NA O.N. | DE000ENER6Y0 | 3.7 | 1.8 | 1.8 |
| SIEMENS AG NA O.N. | DE0007236101 | 3.8 | 1.9 | 1.9 |
| AIRBUS SE | NL0000235190 | 3.8 | 1.9 | 1.9 |
| MERCEDES-BENZ GRP NA O.N. | DE0007100000 | 3.9 | 1.9 | 1.9 |
| BASF SE NA O.N. | DE000BASF111 | 3.9 | 2.0 | 2.0 |
| MUENCH.RUECKVERS. NA O.N. | DE0008430026 | 4.0 | 2.0 | 2.0 |
| RHEINMETALL AG | DE0007030009 | 4.3 | 2.2 | 2.1 |
| INFINEON TECH.AG NA O.N. | DE0006231004 | 4.4 | 2.1 | 2.3 |
| DEUTSCHE BANK AG NA O.N. | DE0005140008 | 4.5 | 2.2 | 2.3 |
| DT.TELEKOM AG NA | DE0005557508 | 5.4 | 2.7 | 2.7 |
| BAYER AG NA O.N. | DE000BAY0017 | 5.4 | 2.7 | 2.8 |
| E.ON SE NA O.N. | DE000ENAG999 | 5.7 | 2.9 | 2.9 |
| ADIDAS AG NA O.N. | DE000A1EWWW0 | 6.0 | 3.1 | 2.9 |
| RWE AG INH O.N. | DE0007037129 | 6.2 | 3.0 | 3.2 |
| BAY.MOTOREN WERKE AG ST | DE0005190003 | 6.2 | 3.0 | 3.2 |
| VOLKSWAGEN AG VZO O.N. | DE0007664039 | 6.4 | 3.3 | 3.1 |
| DEUTSCHE POST AG NA O.N. | DE0005552004 | 6.6 | 3.2 | 3.3 |
| COMMERZBANK AG | DE000CBK1001 | 6.8 | 3.4 | 3.4 |
| HENKEL AG+CO.KGAA VZO | DE0006048432 | 6.8 | 3.6 | 3.2 |
| FRESEN.MED.CARE AG INH ON | DE0005785802 | 7.1 | 3.5 | 3.6 |
| SIEMENS HEALTH.AG NA O.N. | DE000SHL1006 | 7.2 | 3.4 | 3.8 |
| DAIMLER TRUCK HLDG NA ON | DE000DTR0CK8 | 7.3 | 3.6 | 3.6 |
| DEUTSCHE BOERSE NA O.N. | DE0005810055 | 7.3 | 3.8 | 3.5 |
| HEIDELBERG MATERIALS O.N. | DE0006047004 | 7.4 | 3.7 | 3.7 |
| SYMRISE AG INH. O.N. | DE000SYM9999 | 7.6 | 3.9 | 3.7 |
| VONOVIA SE NA O.N. | DE000A1ML7J1 | 7.7 | 3.7 | 3.9 |
| MTU AERO ENGINES NA O.N. | DE000A0D9PT0 | 7.9 | 3.8 | 4.1 |
| BEIERSDORF AG O.N. | DE0005200000 | 8.3 | 4.4 | 4.0 |
| FRESENIUS SE+CO.KGAA O.N. | DE0005785604 | 8.4 | 4.3 | 4.1 |
| MERCK KGAA O.N. | DE0006599905 | 8.8 | 4.2 | 4.6 |
| CONTINENTAL AG O.N. | DE0005439004 | 8.8 | 4.2 | 4.6 |
| QIAGEN NV EO -,01 | NL0015002SN0 | 9.8 | 5.0 | 4.8 |
| HANNOVER RUECK SE NA O.N. | DE0008402215 | 11.2 | 5.6 | 5.6 |
| BRENNTAG SE NA O.N. | DE000A1DAHH0 | 11.4 | 5.5 | 5.8 |
| GEA GROUP AG | DE0006602006 | 14.5 | 7.3 | 7.1 |
| ZALANDO SE | DE000ZAL1111 | 15.8 | 8.0 | 7.8 |
| SCOUT24 SE NA O.N. | DE000A12DM80 | 16.3 | 8.4 | 7.9 |
| HOCHTIEF AG | DE0006070006 | 18.5 | 9.1 | 9.4 |
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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