Market quality

Market quality

  • Xetra® offers the best price more often than any competitor – and as such is the market leader in trading in German blue-chips.
  • Combining quantitative and qualitative factors, Xetra is your first-choice trading venue for German equities.
  • Quantitative data are important, but are not the sole determinant of market quality. To mention just some of the key qualitative factors: Xetra offers absolute neutrality, transparency and straight-through processing.
 

In an increasingly fragmented market for European equities, it is difficult for investors and traders to judge the market quality of different trading venues on a continual basis.

Xetra stands for first-class market quality, as shown by excellent results in comparison with other European trading venues.

We regularly conduct independent measurements of the DAX® and publish the quantitative results in a standardised form.

Market share DAX

RankVenueMarket share
1XETR (Xetra)64.49%
2CHIX (Chi-X)17.88%
3TRQX (Turquoise)9.24%
4BATE (BATS)6.52%
5AQXE (Aquis)1.86%

Spreads DAX

at touch

RankVenueSpread (bps)
1XETR (Xetra)3.53
2CHIX (Chi-X)3.91
3TRQX (Turquoise)4.64
4AQXE (Aquis)4.65
5BATE (BATS)4.80

25k EUR deal

RankVenueSpread (bps)
1XETR (Xetra)4.12
2CHIX (Chi-X)5.26
3AQXE (Aquis)5.76
4TRQX (Turquoise)6.86
5BATE (BATS)7.50

Best prices DAX

at touch

RankVenueBest price
1XETR (Xetra)8.32%
2CHIX (Chi-X)4.65%
3AQXE (Aquis)3.10%
4TRQX (Turquoise)2.45%
5BATE (BATS)1.77%

25k EUR deal

RankVenueBest price
1XETR (Xetra)37.58%
2CHIX (Chi-X)14.54%
3AQXE (Aquis)4.57%
4TRQX (Turquoise)3.66%
5BATE (BATS)1.42%

Order book depth DAX

RankVenueDepth (€ thous.)
1XETR (Xetra)1,469.7
2CHIX (Chi-X)343.3
3AQXE (Aquis)245.4
4BATE (BATS)211.3
5TRQX (Turquoise)199.8
 

Status: May 2017

Legend: 
Market shareMarket share is based on the order book volume during Continuous Trading. An average of all equities in the index is calculated.
SpreadsFor the spreads, the bid/ask spread of visible orders in the order book is measured. An average of all equities in the index is calculated from the result. Order book measurements are made every 30 seconds.
Spreads „at touch“The bid/ask spread shown at the top of the order book.
Spreads „25 k EURO deal“The bid/ask spread for an order volume of €25,000.
Best pricesBest prices show how often a trading platform posts an absolute best share price (no ties). An average of all equities in the index is calculated from the result. Order book measurements take place every five seconds.
Order book depthFor the order book depth, the amount of visible liquidity (bids and offers) in the order book within 10 to 50 basis points of the midpoint is measured. An average of all equities in the index is calculated from the result. Order book measurements take place every 30 seconds.

Data provided by LiquidMetrix LiquidMetrix WorkStation

Market Status

XETR

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Trading System experiencing issues

Trading System experiencing serious issues

Xetra newsboard

The Market Status Indicator displays the current technical availability of the trading system.

It indicates whether Xetra newsboard messages regarding current technical issues of the trading system have been published or will be published shortly.
We strongly recommend not to take any decisions based on the indications in the Market Status Indicator. Please always check the Xetra newsboard for comprehensive information.

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