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 |
|---|---|---|---|---|
| ALLIANZ SE NA O.N. | DE0008404005 | 2.2 | 1.1 | 1.1 |
| DT.TELEKOM AG NA | DE0005557508 | 2.2 | 1.1 | 1.1 |
| SAP SE O.N. | DE0007164600 | 2.9 | 1.4 | 1.5 |
| LINDE PLC EO 0,001 | IE00BZ12WP82 | 3.2 | 1.6 | 1.6 |
| BASF SE NA O.N. | DE000BASF111 | 3.3 | 1.6 | 1.6 |
| BAYER AG NA O.N. | DE000BAY0017 | 3.6 | 1.9 | 1.7 |
| AIRBUS SE | NL0000235190 | 3.8 | 1.8 | 2.0 |
| MERCEDES-BENZ GRP NA O.N. | DE0007100000 | 4.0 | 2.1 | 1.9 |
| DEUTSCHE POST AG NA O.N. | DE0005552004 | 4.0 | 2.0 | 2.0 |
| BAY.MOTOREN WERKE AG ST | DE0005190003 | 4.0 | 2.0 | 2.0 |
| SIEMENS AG NA O.N. | DE0007236101 | 4.1 | 2.1 | 2.0 |
| ADIDAS AG NA O.N. | DE000A1EWWW0 | 4.2 | 2.1 | 2.1 |
| VOLKSWAGEN AG VZO O.N. | DE0007664039 | 4.3 | 2.1 | 2.1 |
| DEUTSCHE BANK AG NA O.N. | DE0005140008 | 4.7 | 2.3 | 2.4 |
| INFINEON TECH.AG NA O.N. | DE0006231004 | 5.2 | 2.6 | 2.6 |
| E.ON SE NA O.N. | DE000ENAG999 | 5.5 | 2.8 | 2.7 |
| HEIDELBERGCEMENT AG O.N. | DE0006047004 | 5.9 | 2.9 | 2.9 |
| RWE AG INH O.N. | DE0007037129 | 6.3 | 3.1 | 3.2 |
| HENKEL AG+CO.KGAA VZO | DE0006048432 | 6.3 | 3.1 | 3.3 |
| MUENCH.RUECKVERS.VNA O.N. | DE0008430026 | 6.7 | 3.3 | 3.4 |
| BEIERSDORF AG O.N. | DE0005200000 | 6.7 | 3.4 | 3.3 |
| QIAGEN NV EO -,01 | NL0012169213 | 7.0 | 3.4 | 3.6 |
| DEUTSCHE BOERSE NA O.N. | DE0005810055 | 7.0 | 3.3 | 3.7 |
| PORSCHE AUTOM.HLDG VZO | DE000PAH0038 | 7.0 | 3.5 | 3.5 |
| MERCK KGAA O.N. | DE0006599905 | 7.2 | 3.6 | 3.6 |
| DAIMLER TRUCK HLDG NA ON | DE000DTR0CK8 | 7.2 | 3.5 | 3.7 |
| SIEMENS HEALTH.AG NA O.N. | DE000SHL1006 | 7.5 | 3.7 | 3.8 |
| VONOVIA SE NA O.N. | DE000A1ML7J1 | 7.7 | 3.8 | 3.9 |
| FRESEN.MED.CARE KGAA O.N. | DE0005785802 | 7.7 | 3.7 | 4.0 |
| COVESTRO AG O.N. | DE0006062144 | 8.1 | 4.1 | 4.0 |
| FRESENIUS SE+CO.KGAA O.N. | DE0005785604 | 8.5 | 4.2 | 4.3 |
| CONTINENTAL AG O.N. | DE0005439004 | 8.5 | 4.2 | 4.3 |
| BRENNTAG SE NA O.N. | DE000A1DAHH0 | 8.5 | 4.3 | 4.2 |
| PUMA SE | DE0006969603 | 8.9 | 4.3 | 4.6 |
| MTU AERO ENGINES NA O.N. | DE000A0D9PT0 | 9.1 | 4.6 | 4.5 |
| HANNOVER RUECK SE NA O.N. | DE0008402215 | 9.3 | 4.5 | 4.8 |
| SYMRISE AG INH. O.N. | DE000SYM9999 | 11.2 | 5.5 | 5.7 |
| SARTORIUS AG VZO O.N. | DE0007165631 | 11.3 | 5.5 | 5.8 |
| HELLOFRESH SE INH O.N. | DE000A161408 | 13.9 | 6.9 | 7.0 |
| ZALANDO SE | DE000ZAL1111 | 15.0 | 7.7 | 7.3 |
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”.