Turnover on German stock exchanges up 15% in H1 2004
In the first six months of 2004, the total turnover on all German stock exchanges was €1.8 trillion - 15 percent more than in the same period of the previous year (H1 2003: €1.5 trillion). Based on the aggregate statistics, a total volume of €252.3 was traded on the German stock exchanges in June - up 3 percent mom. This total includes €187.5 billion in equities, warrants and exchange traded funds, as well as €64.8 billion in fixed-income securities.
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The order-book statistics, which are based on single counting of all transactions in the order book of Xetra and broker-supported trading on the floor, show that the German stock exchanges generated an equities turnover of €72.8 billion in June. Of this total, €68.2 billion was traded in German equities, and €4.6 billion in foreign equities.
About 98 percent of trading in German equities in June was posted on the Frankfurt Stock Exchange for Xetra and the floor. 82 percent of foreign equities were traded on the Frankfurt Stock Exchange. 5 million transactions were executed on Xetra in June. This puts the total number of transactions executed on Xetra in H1 2004 at 36.5 million - about 3 percent more than in H1 2003 (35.6 million).
According to the Xetra liquidity measure (XLM), Siemens AG was the most liquid DAX® blue chip in June with 5 bp for an order volume of €100,000. Puma was the most liquid MDAX® stock with 24 bp. The most liquid equity-based exchange traded fund was the DAX EX with 5 bp. The most liquid foreign stock was Royal
Dutch with 8 bp. XLM is a measure of liquidity in electronic securities trading based on implicit transaction costs and is calculated in basis points (1bp = 0.01 percent) for every security in continuous trading, for a roundtrip in the Xetra order book.
Siemens was the DAX blue chip traded most on the Xetra in June at €5.7 billion. Puma was the top MDAX stock with €432.4 million. MPC was the leading SDAX® stock with €46.1 million, and T-Online topped the TecDAX® with €278.1 million. At €971.8 million, the DAXEX was again the exchange traded fund with the largest turnover.