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 |
|---|---|---|---|---|
| ALLIANZ SE NA O.N. | DE0008404005 | 2.9 | 1.5 | 1.4 |
| DT.TELEKOM AG NA | DE0005557508 | 3.0 | 1.5 | 1.5 |
| SAP SE O.N. | DE0007164600 | 3.2 | 1.6 | 1.6 |
| BASF SE NA O.N. | DE000BASF111 | 3.3 | 1.6 | 1.6 |
| SIEMENS AG NA O.N. | DE0007236101 | 3.3 | 1.6 | 1.6 |
| DAIMLER AG NA O.N. | DE0007100000 | 3.4 | 1.7 | 1.7 |
| INFINEON TECH.AG NA O.N. | DE0006231004 | 3.7 | 1.8 | 1.9 |
| DEUTSCHE POST AG NA O.N. | DE0005552004 | 3.7 | 1.8 | 1.9 |
| LINDE PLC EO 0,001 | IE00BZ12WP82 | 3.8 | 1.9 | 1.9 |
| BAY.MOTOREN WERKE AG ST | DE0005190003 | 3.8 | 1.9 | 1.9 |
| BAYER AG NA O.N. | DE000BAY0017 | 3.8 | 1.9 | 2.0 |
| VOLKSWAGEN AG VZO O.N. | DE0007664039 | 4.0 | 2.0 | 2.0 |
| ADIDAS AG NA O.N. | DE000A1EWWW0 | 4.1 | 2.1 | 2.0 |
| DEUTSCHE WOHNEN SE INH | DE000A0HN5C6 | 4.4 | 2.2 | 2.2 |
| E.ON SE NA O.N. | DE000ENAG999 | 4.9 | 2.5 | 2.3 |
| MUENCH.RUECKVERS.VNA O.N. | DE0008430026 | 5.0 | 2.6 | 2.4 |
| HENKEL AG+CO.KGAA VZO | DE0006048432 | 5.1 | 2.5 | 2.6 |
| FRESENIUS SE+CO.KGAA O.N. | DE0005785604 | 5.2 | 2.5 | 2.6 |
| DEUTSCHE BANK AG NA O.N. | DE0005140008 | 5.4 | 2.7 | 2.7 |
| CONTINENTAL AG O.N. | DE0005439004 | 5.4 | 2.6 | 2.8 |
| AIRBUS SE | NL0000235190 | 5.6 | 2.6 | 3.0 |
| RWE AG INH O.N. | DE0007037129 | 5.9 | 3.0 | 3.0 |
| VONOVIA SE NA O.N. | DE000A1ML7J1 | 6.0 | 3.1 | 2.9 |
| MERCK KGAA O.N. | DE0006599905 | 6.1 | 3.0 | 3.1 |
| DEUTSCHE BOERSE NA O.N. | DE0005810055 | 6.2 | 3.0 | 3.2 |
| HEIDELBERGCEMENT AG O.N. | DE0006047004 | 7.0 | 3.3 | 3.6 |
| COVESTRO AG O.N. | DE0006062144 | 7.2 | 3.6 | 3.6 |
| SIEMENS HEALTH.AG NA O.N. | DE000SHL1006 | 7.5 | 3.7 | 3.8 |
| FRESEN.MED.CARE KGAA O.N. | DE0005785802 | 7.7 | 3.8 | 3.9 |
| BRENNTAG SE NA O.N. | DE000A1DAHH0 | 7.7 | 3.8 | 3.9 |
| PORSCHE AUTOM.HLDG VZO | DE000PAH0038 | 7.8 | 4.0 | 3.8 |
| MTU AERO ENGINES NA O.N. | DE000A0D9PT0 | 8.1 | 4.0 | 4.1 |
| QIAGEN NV EO -,01 | NL0012169213 | 8.1 | 4.0 | 4.1 |
| SIEMENS ENERGY AG NA O.N. | DE000ENER6Y0 | 8.9 | 4.4 | 4.4 |
| SYMRISE AG INH. O.N. | DE000SYM9999 | 8.9 | 4.4 | 4.5 |
| ZALANDO SE | DE000ZAL1111 | 9.0 | 4.4 | 4.5 |
| PUMA SE | DE0006969603 | 9.1 | 4.6 | 4.5 |
| DELIVERY HERO SE NA O.N. | DE000A2E4K43 | 9.6 | 4.8 | 4.8 |
| SARTORIUS AG VZO O.N. | DE0007165631 | 10.0 | 5.2 | 4.8 |
| HELLOFRESH SE INH O.N. | DE000A161408 | 11.4 | 5.6 | 5.9 |
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”.