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 |
---|---|---|---|---|
SAP SE O.N. | DE0007164600 | 2.3 | 1.2 | 1.1 |
SIEMENS AG NA O.N. | DE0007236101 | 2.5 | 1.3 | 1.2 |
MERCEDES-BENZ GRP NA O.N. | DE0007100000 | 2.7 | 1.3 | 1.4 |
DEUTSCHE POST AG NA O.N. | DE0005552004 | 2.9 | 1.5 | 1.4 |
INFINEON TECH.AG NA O.N. | DE0006231004 | 3.0 | 1.6 | 1.4 |
BASF SE NA O.N. | DE000BASF111 | 3.2 | 1.5 | 1.6 |
ALLIANZ SE NA O.N. | DE0008404005 | 3.2 | 1.6 | 1.6 |
AIRBUS SE | NL0000235190 | 3.6 | 1.9 | 1.7 |
DT.TELEKOM AG NA | DE0005557508 | 3.7 | 1.9 | 1.8 |
BAY.MOTOREN WERKE AG ST | DE0005190003 | 3.9 | 2.0 | 1.9 |
VOLKSWAGEN AG VZO O.N. | DE0007664039 | 4.0 | 2.0 | 2.0 |
DEUTSCHE BANK AG NA O.N. | DE0005140008 | 4.0 | 2.1 | 2.0 |
MUENCH.RUECKVERS.VNA O.N. | DE0008430026 | 4.1 | 2.0 | 2.0 |
BAYER AG NA O.N. | DE000BAY0017 | 4.7 | 2.3 | 2.4 |
ADIDAS AG NA O.N. | DE000A1EWWW0 | 4.8 | 2.4 | 2.4 |
DEUTSCHE BOERSE NA O.N. | DE0005810055 | 4.9 | 2.5 | 2.5 |
QIAGEN NV EO -,01 | NL0015001WM6 | 5.0 | 2.4 | 2.6 |
RHEINMETALL AG | DE0007030009 | 5.4 | 2.7 | 2.6 |
DAIMLER TRUCK HLDG NA ON | DE000DTR0CK8 | 5.4 | 2.8 | 2.6 |
PORSCHE AUTOM.HLDG VZO | DE000PAH0038 | 5.6 | 2.8 | 2.7 |
HEIDELBERG MATERIALS O.N. | DE0006047004 | 6.4 | 3.1 | 3.3 |
RWE AG INH O.N. | DE0007037129 | 6.5 | 3.3 | 3.2 |
HENKEL AG+CO.KGAA VZO | DE0006048432 | 6.6 | 3.3 | 3.2 |
BRENNTAG SE NA O.N. | DE000A1DAHH0 | 6.6 | 3.2 | 3.5 |
DR.ING.H.C.F.PORSCHE VZO | DE000PAG9113 | 6.7 | 3.4 | 3.2 |
E.ON SE NA O.N. | DE000ENAG999 | 6.9 | 3.5 | 3.4 |
SIEMENS HEALTH.AG NA O.N. | DE000SHL1006 | 6.9 | 3.4 | 3.5 |
COVESTRO AG O.N. | DE0006062144 | 7.1 | 3.6 | 3.5 |
COMMERZBANK AG | DE000CBK1001 | 7.2 | 3.6 | 3.6 |
MERCK KGAA O.N. | DE0006599905 | 7.3 | 3.5 | 3.8 |
BEIERSDORF AG O.N. | DE0005200000 | 7.4 | 3.7 | 3.7 |
VONOVIA SE NA O.N. | DE000A1ML7J1 | 8.2 | 4.2 | 4.0 |
CONTINENTAL AG O.N. | DE0005439004 | 8.3 | 4.0 | 4.3 |
FRESENIUS SE+CO.KGAA O.N. | DE0005785604 | 8.8 | 4.1 | 4.7 |
SYMRISE AG INH. O.N. | DE000SYM9999 | 8.9 | 4.4 | 4.4 |
HANNOVER RUECK SE NA O.N. | DE0008402215 | 9.1 | 4.5 | 4.6 |
SIEMENS ENERGY AG NA O.N. | DE000ENER6Y0 | 9.1 | 4.6 | 4.5 |
MTU AERO ENGINES NA O.N. | DE000A0D9PT0 | 9.3 | 4.6 | 4.7 |
SARTORIUS AG VZO O.N. | DE0007165631 | 10.3 | 5.1 | 5.2 |
ZALANDO SE | DE000ZAL1111 | 11.9 | 5.9 | 6.1 |
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”.