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 |
|---|---|---|---|---|
| SIEMENS AG NA O.N. | DE0007236101 | 2.3 | 1.1 | 1.1 |
| SAP SE O.N. | DE0007164600 | 3.4 | 1.7 | 1.7 |
| BASF SE NA O.N. | DE000BASF111 | 3.5 | 1.7 | 1.8 |
| DEUTSCHE BANK AG NA O.N. | DE0005140008 | 3.8 | 1.8 | 2.0 |
| MERCEDES-BENZ GRP NA O.N. | DE0007100000 | 3.8 | 1.9 | 1.9 |
| MUENCH.RUECKVERS.VNA O.N. | DE0008430026 | 3.9 | 2.0 | 1.9 |
| AIRBUS SE | NL0000235190 | 4.1 | 2.0 | 2.1 |
| COVESTRO AG O.N. | DE0006062144 | 4.1 | 2.1 | 2.1 |
| ALLIANZ SE NA O.N. | DE0008404005 | 4.2 | 2.2 | 2.1 |
| DT.TELEKOM AG NA | DE0005557508 | 4.4 | 2.2 | 2.2 |
| RWE AG INH O.N. | DE0007037129 | 5.0 | 2.6 | 2.5 |
| DEUTSCHE POST AG NA O.N. | DE0005552004 | 5.2 | 2.7 | 2.5 |
| INFINEON TECH.AG NA O.N. | DE0006231004 | 5.2 | 2.7 | 2.6 |
| BAYER AG NA O.N. | DE000BAY0017 | 5.3 | 2.6 | 2.7 |
| SIEMENS ENERGY AG NA O.N. | DE000ENER6Y0 | 5.5 | 2.8 | 2.6 |
| VOLKSWAGEN AG VZO O.N. | DE0007664039 | 5.5 | 2.7 | 2.9 |
| BAY.MOTOREN WERKE AG ST | DE0005190003 | 5.8 | 2.9 | 2.8 |
| QIAGEN NV EO -,01 | NL0015001WM6 | 6.1 | 3.0 | 3.1 |
| COMMERZBANK AG | DE000CBK1001 | 6.2 | 3.0 | 3.2 |
| SIEMENS HEALTH.AG NA O.N. | DE000SHL1006 | 6.6 | 3.4 | 3.2 |
| E.ON SE NA O.N. | DE000ENAG999 | 6.7 | 3.4 | 3.3 |
| RHEINMETALL AG | DE0007030009 | 6.9 | 3.5 | 3.4 |
| ADIDAS AG NA O.N. | DE000A1EWWW0 | 6.9 | 3.4 | 3.5 |
| VONOVIA SE NA O.N. | DE000A1ML7J1 | 7.0 | 3.4 | 3.6 |
| HENKEL AG+CO.KGAA VZO | DE0006048432 | 7.1 | 3.5 | 3.6 |
| PORSCHE AUTOM.HLDG VZO | DE000PAH0038 | 7.1 | 3.5 | 3.6 |
| DEUTSCHE BOERSE NA O.N. | DE0005810055 | 7.2 | 3.6 | 3.5 |
| DAIMLER TRUCK HLDG NA ON | DE000DTR0CK8 | 7.2 | 3.7 | 3.5 |
| HEIDELBERG MATERIALS O.N. | DE0006047004 | 7.2 | 3.8 | 3.4 |
| FRESENIUS SE+CO.KGAA O.N. | DE0005785604 | 7.5 | 3.7 | 3.8 |
| MERCK KGAA O.N. | DE0006599905 | 7.5 | 3.6 | 3.9 |
| BEIERSDORF AG O.N. | DE0005200000 | 7.8 | 4.1 | 3.7 |
| MTU AERO ENGINES NA O.N. | DE000A0D9PT0 | 7.8 | 3.9 | 3.9 |
| DR.ING.H.C.F.PORSCHE VZO | DE000PAG9113 | 7.9 | 4.0 | 4.0 |
| HANNOVER RUECK SE NA O.N. | DE0008402215 | 8.0 | 3.9 | 4.1 |
| SYMRISE AG INH. O.N. | DE000SYM9999 | 9.3 | 4.4 | 4.9 |
| CONTINENTAL AG O.N. | DE0005439004 | 10.0 | 5.1 | 5.0 |
| BRENNTAG SE NA O.N. | DE000A1DAHH0 | 10.1 | 5.3 | 4.8 |
| ZALANDO SE | DE000ZAL1111 | 11.6 | 5.6 | 6.0 |
| SARTORIUS AG VZO O.N. | DE0007165631 | 15.7 | 8.0 | 7.7 |
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”.