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 |
|---|---|---|---|---|
| DEUTSCHE BANK AG NA O.N. | DE0005140008 | 2.7 | 1.3 | 1.4 |
| BASF SE NA O.N. | DE000BASF111 | 2.9 | 1.4 | 1.4 |
| SAP SE O.N. | DE0007164600 | 3.1 | 1.5 | 1.5 |
| AIRBUS SE | NL0000235190 | 3.1 | 1.6 | 1.5 |
| SIEMENS AG NA O.N. | DE0007236101 | 3.4 | 1.7 | 1.7 |
| MERCEDES-BENZ GRP NA O.N. | DE0007100000 | 3.6 | 1.8 | 1.8 |
| VOLKSWAGEN AG VZO O.N. | DE0007664039 | 3.9 | 2.0 | 2.0 |
| ALLIANZ SE NA O.N. | DE0008404005 | 4.0 | 2.0 | 2.0 |
| INFINEON TECH.AG NA O.N. | DE0006231004 | 4.1 | 2.0 | 2.0 |
| DT.TELEKOM AG NA | DE0005557508 | 4.3 | 2.1 | 2.2 |
| DEUTSCHE POST AG NA O.N. | DE0005552004 | 4.5 | 2.2 | 2.2 |
| BAY.MOTOREN WERKE AG ST | DE0005190003 | 4.9 | 2.4 | 2.5 |
| RHEINMETALL AG | DE0007030009 | 5.3 | 2.6 | 2.6 |
| MUENCH.RUECKVERS.VNA O.N. | DE0008430026 | 5.3 | 2.7 | 2.6 |
| BAYER AG NA O.N. | DE000BAY0017 | 5.4 | 2.6 | 2.8 |
| COMMERZBANK AG | DE000CBK1001 | 5.5 | 2.7 | 2.8 |
| ADIDAS AG NA O.N. | DE000A1EWWW0 | 5.8 | 3.0 | 2.8 |
| RWE AG INH O.N. | DE0007037129 | 6.0 | 3.0 | 3.0 |
| DEUTSCHE BOERSE NA O.N. | DE0005810055 | 6.0 | 3.0 | 3.0 |
| FRESENIUS SE+CO.KGAA O.N. | DE0005785604 | 6.3 | 3.2 | 3.1 |
| DAIMLER TRUCK HLDG NA ON | DE000DTR0CK8 | 6.6 | 3.3 | 3.3 |
| VONOVIA SE NA O.N. | DE000A1ML7J1 | 6.7 | 3.4 | 3.3 |
| E.ON SE NA O.N. | DE000ENAG999 | 6.8 | 3.4 | 3.4 |
| PORSCHE AUTOM.HLDG VZO | DE000PAH0038 | 6.9 | 3.5 | 3.4 |
| HEIDELBERG MATERIALS O.N. | DE0006047004 | 7.0 | 3.4 | 3.6 |
| HENKEL AG+CO.KGAA VZO | DE0006048432 | 7.2 | 3.5 | 3.7 |
| MTU AERO ENGINES NA O.N. | DE000A0D9PT0 | 7.2 | 3.6 | 3.6 |
| SIEMENS HEALTH.AG NA O.N. | DE000SHL1006 | 7.4 | 3.7 | 3.7 |
| MERCK KGAA O.N. | DE0006599905 | 7.6 | 3.8 | 3.7 |
| CONTINENTAL AG O.N. | DE0005439004 | 7.7 | 4.0 | 3.7 |
| HANNOVER RUECK SE NA O.N. | DE0008402215 | 7.8 | 3.9 | 3.9 |
| SIEMENS ENERGY AG NA O.N. | DE000ENER6Y0 | 7.9 | 4.0 | 3.8 |
| BEIERSDORF AG O.N. | DE0005200000 | 7.9 | 4.0 | 3.9 |
| DR.ING.H.C.F.PORSCHE VZO | DE000PAG9113 | 8.1 | 4.0 | 4.1 |
| FRESEN.MED.CARE AG INH ON | DE0005785802 | 8.4 | 4.1 | 4.3 |
| ZALANDO SE | DE000ZAL1111 | 8.8 | 4.2 | 4.5 |
| SYMRISE AG INH. O.N. | DE000SYM9999 | 8.9 | 4.4 | 4.5 |
| BRENNTAG SE NA O.N. | DE000A1DAHH0 | 9.6 | 4.9 | 4.7 |
| SARTORIUS AG VZO O.N. | DE0007165631 | 14.9 | 7.5 | 7.4 |
| QIAGEN NV EO -,01 | NL0015002CX3 | 19.4 | 12.1 | 11.8 |
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”.