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 more than 60 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 | 2.3 | 1.2 | 1.1 |
| SAP SE O.N. | DE0007164600 | 2.7 | 1.3 | 1.3 |
| SIEMENS AG NA | DE0007236101 | 3.0 | 1.5 | 1.5 |
| BASF SE NA O.N. | DE000BASF111 | 3.2 | 1.6 | 1.6 |
| E.ON SE NA O.N. | DE000ENAG999 | 3.3 | 1.7 | 1.7 |
| BAYER AG NA O.N. | DE000BAY0017 | 3.5 | 1.7 | 1.8 |
| DAIMLER AG NA O.N. | DE0007100000 | 3.8 | 1.9 | 1.9 |
| BAY.MOTOREN WERKE AG ST | DE0005190003 | 3.8 | 1.9 | 1.9 |
| VOLKSWAGEN AG VZO O.N. | DE0007664039 | 4.0 | 2.0 | 2.0 |
| VONOVIA SE NA O.N. | DE000A1ML7J1 | 4.4 | 2.1 | 2.3 |
| DT.TELEKOM AG NA | DE0005557508 | 4.5 | 2.2 | 2.3 |
| HENKEL AG+CO.KGAA VZO | DE0006048432 | 5.0 | 2.5 | 2.4 |
| BEIERSDORF AG O.N. | DE0005200000 | 5.2 | 2.6 | 2.6 |
| INFINEON TECH.AG NA O.N. | DE0006231004 | 5.5 | 2.8 | 2.8 |
| LUFTHANSA AG VNA O.N. | DE0008232125 | 5.5 | 2.8 | 2.8 |
| MUENCH.RUECKVERS.VNA O.N. | DE0008430026 | 5.6 | 2.8 | 2.8 |
| FRESENIUS SE+CO.KGAA O.N. | DE0005785604 | 5.6 | 2.8 | 2.8 |
| MERCK KGAA O.N. | DE0006599905 | 5.7 | 2.9 | 2.8 |
| ADIDAS AG NA O.N. | DE000A1EWWW0 | 6.0 | 3.0 | 3.0 |
| DEUTSCHE POST AG NA O.N. | DE0005552004 | 6.0 | 2.9 | 3.1 |
| FRESEN.MED.CARE KGAA O.N. | DE0005785802 | 6.0 | 2.9 | 3.1 |
| DEUTSCHE BOERSE NA O.N. | DE0005810055 | 6.1 | 3.0 | 3.1 |
| HEIDELBERGCEMENT AG O.N. | DE0006047004 | 6.4 | 3.2 | 3.3 |
| LINDE PLC EO 0,001 | IE00BZ12WP82 | 6.5 | 3.2 | 3.3 |
| CONTINENTAL AG O.N. | DE0005439004 | 6.6 | 3.3 | 3.2 |
| DEUTSCHE BANK AG NA O.N. | DE0005140008 | 6.6 | 3.3 | 3.3 |
| RWE AG ST O.N. | DE0007037129 | 6.8 | 3.5 | 3.3 |
| COVESTRO AG O.N. | DE0006062144 | 6.8 | 3.5 | 3.3 |
| THYSSENKRUPP AG O.N. | DE0007500001 | 8.0 | 4.0 | 4.0 |
| WIRECARD AG | DE0007472060 | 12.1 | 5.6 | 6.5 |
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”.