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 | 2.7 | 1.4 | 1.3 |
| ALLIANZ SE NA O.N. | DE0008404005 | 2.7 | 1.4 | 1.3 |
| LINDE PLC EO 0,001 | IE00BZ12WP82 | 3.3 | 1.7 | 1.6 |
| SAP SE O.N. | DE0007164600 | 3.4 | 1.7 | 1.6 |
| BASF SE NA O.N. | DE000BASF111 | 3.8 | 1.9 | 1.9 |
| SIEMENS AG NA O.N. | DE0007236101 | 3.9 | 2.0 | 1.9 |
| BAYER AG NA O.N. | DE000BAY0017 | 4.1 | 2.0 | 2.1 |
| DEUTSCHE POST AG NA O.N. | DE0005552004 | 4.2 | 2.1 | 2.1 |
| BAY.MOTOREN WERKE AG ST | DE0005190003 | 4.3 | 2.2 | 2.2 |
| AIRBUS SE | NL0000235190 | 4.6 | 2.4 | 2.3 |
| MERCEDES-BENZ GRP NA O.N. | DE0007100000 | 5.0 | 2.5 | 2.4 |
| ADIDAS AG NA O.N. | DE000A1EWWW0 | 5.0 | 2.5 | 2.5 |
| VOLKSWAGEN AG VZO O.N. | DE0007664039 | 5.1 | 2.6 | 2.5 |
| DEUTSCHE BANK AG NA O.N. | DE0005140008 | 5.2 | 2.7 | 2.6 |
| INFINEON TECH.AG NA O.N. | DE0006231004 | 6.0 | 3.0 | 3.0 |
| E.ON SE NA O.N. | DE000ENAG999 | 6.5 | 3.3 | 3.3 |
| HEIDELBERGCEMENT AG O.N. | DE0006047004 | 6.7 | 3.4 | 3.3 |
| HENKEL AG+CO.KGAA VZO | DE0006048432 | 6.9 | 3.4 | 3.6 |
| DEUTSCHE BOERSE NA O.N. | DE0005810055 | 7.1 | 3.6 | 3.5 |
| FRESEN.MED.CARE KGAA O.N. | DE0005785802 | 7.1 | 3.5 | 3.6 |
| SIEMENS HEALTH.AG NA O.N. | DE000SHL1006 | 7.2 | 3.8 | 3.4 |
| RWE AG INH O.N. | DE0007037129 | 7.2 | 3.7 | 3.6 |
| QIAGEN NV EO -,01 | NL0012169213 | 7.5 | 3.8 | 3.7 |
| MUENCH.RUECKVERS.VNA O.N. | DE0008430026 | 7.6 | 3.8 | 3.8 |
| MERCK KGAA O.N. | DE0006599905 | 8.0 | 4.0 | 3.9 |
| VONOVIA SE NA O.N. | DE000A1ML7J1 | 8.1 | 4.0 | 4.2 |
| PORSCHE AUTOM.HLDG VZO | DE000PAH0038 | 8.5 | 4.3 | 4.3 |
| DAIMLER TRUCK HLDG NA ON | DE000DTR0CK8 | 8.6 | 4.5 | 4.2 |
| COVESTRO AG O.N. | DE0006062144 | 8.8 | 4.4 | 4.5 |
| FRESENIUS SE+CO.KGAA O.N. | DE0005785604 | 8.8 | 4.5 | 4.4 |
| BEIERSDORF AG O.N. | DE0005200000 | 8.9 | 4.5 | 4.4 |
| BRENNTAG SE NA O.N. | DE000A1DAHH0 | 9.1 | 4.5 | 4.6 |
| MTU AERO ENGINES NA O.N. | DE000A0D9PT0 | 9.2 | 4.7 | 4.5 |
| CONTINENTAL AG O.N. | DE0005439004 | 9.8 | 4.9 | 4.9 |
| PUMA SE | DE0006969603 | 10.0 | 5.0 | 5.0 |
| HANNOVER RUECK SE NA O.N. | DE0008402215 | 10.2 | 5.3 | 5.0 |
| SARTORIUS AG VZO O.N. | DE0007165631 | 10.6 | 5.5 | 5.2 |
| SYMRISE AG INH. O.N. | DE000SYM9999 | 11.0 | 5.4 | 5.6 |
| HELLOFRESH SE INH O.N. | DE000A161408 | 12.2 | 6.2 | 6.0 |
| ZALANDO SE | DE000ZAL1111 | 12.5 | 6.2 | 6.3 |
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”.