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 |
|---|---|---|---|---|
| AIRBUS SE | NL0000235190 | 3.0 | 1.6 | 1.5 |
| SAP SE O.N. | DE0007164600 | 3.3 | 1.7 | 1.6 |
| DEUTSCHE BANK AG NA O.N. | DE0005140008 | 3.5 | 1.7 | 1.8 |
| SIEMENS AG NA O.N. | DE0007236101 | 3.7 | 1.8 | 1.8 |
| ALLIANZ SE NA O.N. | DE0008404005 | 3.9 | 1.9 | 1.9 |
| MERCEDES-BENZ GRP NA O.N. | DE0007100000 | 3.9 | 2.0 | 1.9 |
| INFINEON TECH.AG NA O.N. | DE0006231004 | 4.1 | 2.0 | 2.1 |
| BASF SE NA O.N. | DE000BASF111 | 4.3 | 2.1 | 2.2 |
| VOLKSWAGEN AG VZO O.N. | DE0007664039 | 4.4 | 2.2 | 2.2 |
| BAYER AG NA O.N. | DE000BAY0017 | 4.5 | 2.3 | 2.2 |
| DT.TELEKOM AG NA | DE0005557508 | 4.5 | 2.4 | 2.1 |
| BAY.MOTOREN WERKE AG ST | DE0005190003 | 5.1 | 2.6 | 2.5 |
| MUENCH.RUECKVERS. NA O.N. | DE0008430026 | 5.3 | 2.6 | 2.6 |
| SIEMENS HEALTH.AG NA O.N. | DE000SHL1006 | 5.3 | 2.8 | 2.5 |
| DEUTSCHE POST AG NA O.N. | DE0005552004 | 5.4 | 2.7 | 2.7 |
| FRESENIUS SE+CO.KGAA O.N. | DE0005785604 | 5.5 | 2.8 | 2.7 |
| ADIDAS AG NA O.N. | DE000A1EWWW0 | 5.5 | 2.8 | 2.8 |
| DEUTSCHE BOERSE NA O.N. | DE0005810055 | 5.6 | 2.9 | 2.7 |
| SIEMENS ENERGY AG NA O.N. | DE000ENER6Y0 | 5.7 | 2.9 | 2.8 |
| RHEINMETALL AG | DE0007030009 | 5.8 | 2.9 | 2.9 |
| COMMERZBANK AG | DE000CBK1001 | 5.9 | 3.1 | 2.8 |
| HENKEL AG+CO.KGAA VZO | DE0006048432 | 6.2 | 3.1 | 3.1 |
| RWE AG INH O.N. | DE0007037129 | 6.2 | 3.2 | 3.0 |
| MTU AERO ENGINES NA O.N. | DE000A0D9PT0 | 6.5 | 3.3 | 3.2 |
| E.ON SE NA O.N. | DE000ENAG999 | 6.5 | 3.3 | 3.3 |
| VONOVIA SE NA O.N. | DE000A1ML7J1 | 6.7 | 3.3 | 3.4 |
| PORSCHE AUTOM.HLDG VZO | DE000PAH0038 | 6.8 | 3.4 | 3.4 |
| CONTINENTAL AG O.N. | DE0005439004 | 7.0 | 3.6 | 3.4 |
| DR.ING.H.C.F.PORSCHE VZO | DE000PAG9113 | 7.1 | 3.5 | 3.5 |
| SYMRISE AG INH. O.N. | DE000SYM9999 | 7.2 | 3.8 | 3.4 |
| BEIERSDORF AG O.N. | DE0005200000 | 7.2 | 3.8 | 3.4 |
| DAIMLER TRUCK HLDG NA ON | DE000DTR0CK8 | 7.3 | 3.6 | 3.7 |
| FRESEN.MED.CARE AG INH ON | DE0005785802 | 7.6 | 4.1 | 3.5 |
| QIAGEN NV EO -,01 | NL0015002CX3 | 8.0 | 4.0 | 4.0 |
| HEIDELBERG MATERIALS O.N. | DE0006047004 | 8.5 | 4.2 | 4.3 |
| MERCK KGAA O.N. | DE0006599905 | 9.2 | 4.7 | 4.5 |
| ZALANDO SE | DE000ZAL1111 | 10.3 | 5.0 | 5.2 |
| HANNOVER RUECK SE NA O.N. | DE0008402215 | 10.7 | 5.3 | 5.4 |
| SARTORIUS AG VZO O.N. | DE0007165631 | 11.1 | 5.7 | 5.5 |
| BRENNTAG SE NA O.N. | DE000A1DAHH0 | 12.3 | 6.3 | 6.0 |
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”.