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 | 3.2 | 1.6 | 1.7 |
| AIRBUS SE | NL0000235190 | 4.3 | 2.1 | 2.1 |
| ALLIANZ SE NA O.N. | DE0008404005 | 4.3 | 2.2 | 2.2 |
| SIEMENS AG NA O.N. | DE0007236101 | 4.6 | 2.3 | 2.3 |
| MERCEDES-BENZ GRP NA O.N. | DE0007100000 | 4.8 | 2.4 | 2.4 |
| BASF SE NA O.N. | DE000BASF111 | 4.8 | 2.4 | 2.5 |
| DEUTSCHE BANK AG NA O.N. | DE0005140008 | 5.1 | 2.6 | 2.5 |
| DEUTSCHE POST AG NA O.N. | DE0005552004 | 5.2 | 2.6 | 2.6 |
| DT.TELEKOM AG NA | DE0005557508 | 5.5 | 2.7 | 2.7 |
| VOLKSWAGEN AG VZO O.N. | DE0007664039 | 5.7 | 2.7 | 2.9 |
| E.ON SE NA O.N. | DE000ENAG999 | 5.7 | 2.9 | 2.8 |
| BAYER AG NA O.N. | DE000BAY0017 | 6.0 | 3.0 | 2.9 |
| INFINEON TECH.AG NA O.N. | DE0006231004 | 6.0 | 3.0 | 3.0 |
| SIEMENS ENERGY AG NA O.N. | DE000ENER6Y0 | 6.2 | 3.1 | 3.1 |
| BAY.MOTOREN WERKE AG ST | DE0005190003 | 6.3 | 3.2 | 3.1 |
| RHEINMETALL AG | DE0007030009 | 6.3 | 3.1 | 3.2 |
| MUENCH.RUECKVERS. NA O.N. | DE0008430026 | 6.6 | 3.3 | 3.3 |
| RWE AG INH O.N. | DE0007037129 | 6.7 | 3.4 | 3.3 |
| DEUTSCHE BOERSE NA O.N. | DE0005810055 | 7.0 | 3.6 | 3.5 |
| FRESENIUS SE+CO.KGAA O.N. | DE0005785604 | 7.4 | 3.7 | 3.6 |
| ADIDAS AG NA O.N. | DE000A1EWWW0 | 7.5 | 3.8 | 3.7 |
| FRESEN.MED.CARE AG INH ON | DE0005785802 | 7.6 | 3.8 | 3.8 |
| HENKEL AG+CO.KGAA VZO | DE0006048432 | 7.7 | 3.8 | 3.8 |
| COMMERZBANK AG | DE000CBK1001 | 7.8 | 3.8 | 3.9 |
| SIEMENS HEALTH.AG NA O.N. | DE000SHL1006 | 7.8 | 4.0 | 3.8 |
| HEIDELBERG MATERIALS O.N. | DE0006047004 | 7.8 | 4.2 | 3.6 |
| BEIERSDORF AG O.N. | DE0005200000 | 8.0 | 4.1 | 3.9 |
| MTU AERO ENGINES NA O.N. | DE000A0D9PT0 | 8.3 | 4.2 | 4.1 |
| VONOVIA SE NA O.N. | DE000A1ML7J1 | 8.3 | 4.2 | 4.2 |
| DAIMLER TRUCK HLDG NA ON | DE000DTR0CK8 | 8.5 | 4.2 | 4.3 |
| PORSCHE AUTOM.HLDG VZO | DE000PAH0038 | 8.6 | 4.3 | 4.3 |
| QIAGEN NV EO -,01 | NL0015002SN0 | 10.4 | 5.3 | 5.1 |
| MERCK KGAA O.N. | DE0006599905 | 10.5 | 5.2 | 5.3 |
| SYMRISE AG INH. O.N. | DE000SYM9999 | 11.3 | 5.6 | 5.7 |
| CONTINENTAL AG O.N. | DE0005439004 | 11.4 | 6.0 | 5.4 |
| HANNOVER RUECK SE NA O.N. | DE0008402215 | 12.1 | 5.9 | 6.1 |
| ZALANDO SE | DE000ZAL1111 | 13.7 | 7.1 | 6.6 |
| GEA GROUP AG | DE0006602006 | 15.6 | 8.1 | 7.5 |
| BRENNTAG SE NA O.N. | DE000A1DAHH0 | 15.7 | 8.0 | 7.7 |
| SCOUT24 SE NA O.N. | DE000A12DM80 | 17.3 | 8.8 | 8.5 |
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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