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 |
|---|---|---|---|---|
| DT.TELEKOM AG NA | DE0005557508 | 2.5 | 1.3 | 1.2 |
| SIEMENS AG NA O.N. | DE0007236101 | 2.7 | 1.3 | 1.3 |
| LINDE PLC EO 0,001 | IE00BZ12WP82 | 2.8 | 1.4 | 1.4 |
| BASF SE NA O.N. | DE000BASF111 | 3.0 | 1.5 | 1.5 |
| ALLIANZ SE NA O.N. | DE0008404005 | 3.4 | 1.7 | 1.7 |
| BAY.MOTOREN WERKE AG ST | DE0005190003 | 3.5 | 1.7 | 1.7 |
| DEUTSCHE POST AG NA O.N. | DE0005552004 | 3.5 | 1.7 | 1.8 |
| SAP SE O.N. | DE0007164600 | 3.5 | 1.8 | 1.8 |
| VOLKSWAGEN AG VZO O.N. | DE0007664039 | 3.7 | 1.9 | 1.8 |
| MERCEDES-BENZ GRP NA O.N. | DE0007100000 | 3.8 | 1.9 | 1.9 |
| BAYER AG NA O.N. | DE000BAY0017 | 3.8 | 1.9 | 1.9 |
| DEUTSCHE BANK AG NA O.N. | DE0005140008 | 4.1 | 2.1 | 2.0 |
| AIRBUS SE | NL0000235190 | 4.3 | 2.2 | 2.1 |
| INFINEON TECH.AG NA O.N. | DE0006231004 | 4.3 | 2.1 | 2.3 |
| MUENCH.RUECKVERS.VNA O.N. | DE0008430026 | 5.0 | 2.4 | 2.6 |
| ADIDAS AG NA O.N. | DE000A1EWWW0 | 5.6 | 2.8 | 2.8 |
| E.ON SE NA O.N. | DE000ENAG999 | 5.7 | 2.8 | 2.9 |
| DAIMLER TRUCK HLDG NA ON | DE000DTR0CK8 | 6.0 | 3.0 | 3.0 |
| RWE AG INH O.N. | DE0007037129 | 6.2 | 3.2 | 3.0 |
| DEUTSCHE BOERSE NA O.N. | DE0005810055 | 6.4 | 3.2 | 3.2 |
| QIAGEN NV EO -,01 | NL0012169213 | 6.6 | 3.3 | 3.3 |
| HENKEL AG+CO.KGAA VZO | DE0006048432 | 7.0 | 3.5 | 3.5 |
| HANNOVER RUECK SE NA O.N. | DE0008402215 | 7.3 | 3.7 | 3.6 |
| PORSCHE AUTOM.HLDG VZO | DE000PAH0038 | 7.4 | 3.7 | 3.7 |
| MERCK KGAA O.N. | DE0006599905 | 8.1 | 4.1 | 3.9 |
| FRESENIUS SE+CO.KGAA O.N. | DE0005785604 | 8.2 | 3.8 | 4.3 |
| SIEMENS HEALTH.AG NA O.N. | DE000SHL1006 | 8.3 | 4.0 | 4.2 |
| COVESTRO AG O.N. | DE0006062144 | 8.3 | 4.0 | 4.3 |
| SIEMENS ENERGY AG NA O.N. | DE000ENER6Y0 | 8.8 | 4.1 | 4.6 |
| BEIERSDORF AG O.N. | DE0005200000 | 8.9 | 4.4 | 4.5 |
| MTU AERO ENGINES NA O.N. | DE000A0D9PT0 | 9.0 | 4.4 | 4.6 |
| BRENNTAG SE NA O.N. | DE000A1DAHH0 | 9.3 | 4.8 | 4.5 |
| VONOVIA SE NA O.N. | DE000A1ML7J1 | 9.3 | 4.8 | 4.6 |
| PUMA SE | DE0006969603 | 9.4 | 4.8 | 4.6 |
| HEIDELBERGCEMENT AG O.N. | DE0006047004 | 9.4 | 4.9 | 4.5 |
| SYMRISE AG INH. O.N. | DE000SYM9999 | 10.2 | 5.2 | 5.0 |
| SARTORIUS AG VZO O.N. | DE0007165631 | 10.2 | 5.1 | 5.1 |
| FRESEN.MED.CARE KGAA O.N. | DE0005785802 | 10.3 | 5.3 | 5.0 |
| CONTINENTAL AG O.N. | DE0005439004 | 10.6 | 5.4 | 5.2 |
| ZALANDO SE | DE000ZAL1111 | 11.3 | 5.7 | 5.7 |
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”.