DAX listed blue chips
DAX listed blue chips
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 | 3.5 | 1.8 | 1.7 |
| ALLIANZ SE NA O.N. | DE0008404005 | 3.8 | 1.8 | 1.9 |
| SAP SE O.N. | DE0007164600 | 4.5 | 2.2 | 2.3 |
| DEUTSCHE BANK AG NA O.N. | DE0005140008 | 4.5 | 2.3 | 2.2 |
| AIRBUS SE | NL0000235190 | 4.6 | 2.3 | 2.2 |
| SIEMENS ENERGY AG NA O.N. | DE000ENER6Y0 | 4.7 | 2.5 | 2.3 |
| MERCEDES-BENZ GRP NA O.N. | DE0007100000 | 5.1 | 2.5 | 2.6 |
| DT.TELEKOM AG NA | DE0005557508 | 5.5 | 2.8 | 2.7 |
| QIAGEN NV EO -,01 | NL0015002SN0 | 5.6 | 2.7 | 2.9 |
| MUENCH.RUECKVERS. NA O.N. | DE0008430026 | 5.6 | 2.8 | 2.7 |
| BASF SE NA O.N. | DE000BASF111 | 5.6 | 2.8 | 2.8 |
| INFINEON TECH.AG NA O.N. | DE0006231004 | 5.9 | 3.0 | 2.9 |
| E.ON SE NA O.N. | DE000ENAG999 | 5.9 | 2.8 | 3.1 |
| COMMERZBANK AG | DE000CBK1001 | 6.0 | 3.1 | 2.9 |
| BAYER AG NA O.N. | DE000BAY0017 | 6.0 | 3.0 | 3.0 |
| DEUTSCHE BOERSE NA O.N. | DE0005810055 | 6.2 | 3.1 | 3.1 |
| RHEINMETALL AG | DE0007030009 | 6.2 | 3.1 | 3.2 |
| SIEMENS HEALTH.AG NA O.N. | DE000SHL1006 | 6.4 | 3.1 | 3.3 |
| FRESENIUS SE+CO.KGAA O.N. | DE000FRE5EN2 | 6.5 | 3.3 | 3.2 |
| HENKEL AG+CO.KGAA VZO | DE0006048432 | 6.6 | 3.2 | 3.4 |
| ADIDAS AG NA O.N. | DE000A1EWWW0 | 6.7 | 3.3 | 3.4 |
| DHL AG | DE0005552004 | 6.7 | 3.3 | 3.5 |
| DAIMLER TRUCK HLDG NA ON | DE000DTR0CK8 | 6.8 | 3.5 | 3.3 |
| VONOVIA SE NA O.N. | DE000A1ML7J1 | 7.0 | 3.4 | 3.5 |
| RWE AG INH O.N. | DE0007037129 | 7.2 | 3.5 | 3.7 |
| VOLKSWAGEN AG VZO O.N. | DE0007664039 | 7.3 | 3.7 | 3.6 |
| BAY.MOTOREN WERKE AG ST | DE0005190003 | 7.3 | 3.6 | 3.7 |
| BEIERSDORF AG O.N. | DE0005200000 | 7.8 | 3.8 | 4.0 |
| SYMRISE AG INH. O.N. | DE000SYM9999 | 7.9 | 3.7 | 4.2 |
| MERCK KGAA O.N. | DE0006599905 | 8.4 | 4.1 | 4.3 |
| HEIDELBERG MATERIALS O.N. | DE0006047004 | 8.4 | 4.2 | 4.2 |
| CONTINENTAL AG O.N. | DE0005439004 | 9.2 | 4.5 | 4.7 |
| FRESEN.MED.CARE AG INH ON | DE0005785802 | 9.2 | 4.4 | 4.8 |
| MTU AERO ENGINES NA O.N. | DE000A0D9PT0 | 9.2 | 4.8 | 4.5 |
| HANNOVER RUECK SE NA O.N. | DE0008402215 | 10.6 | 5.2 | 5.4 |
| BRENNTAG SE NA O.N. | DE000A1DAHH0 | 11.5 | 5.9 | 5.5 |
| ZALANDO SE | DE000ZAL1111 | 12.2 | 5.6 | 6.6 |
| GEA GROUP AG | DE0006602006 | 12.4 | 6.2 | 6.2 |
| SCOUT24 SE NA O.N. | DE000A12DM80 | 14.3 | 7.1 | 7.2 |
| HOCHTIEF AG | DE0006070006 | 16.1 | 8.0 | 8.1 |
Deutsche Börse Cash Market 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”.