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 |
|---|---|---|---|---|
| SAP SE O.N. | DE0007164600 | 2.5 | 1.2 | 1.2 |
| MERCEDES-BENZ GRP NA O.N. | DE0007100000 | 2.7 | 1.3 | 1.4 |
| BASF SE NA O.N. | DE000BASF111 | 2.9 | 1.4 | 1.5 |
| SIEMENS AG NA O.N. | DE0007236101 | 3.3 | 1.6 | 1.7 |
| AIRBUS SE | NL0000235190 | 3.5 | 1.8 | 1.7 |
| DEUTSCHE BANK AG NA O.N. | DE0005140008 | 3.9 | 1.9 | 2.0 |
| ALLIANZ SE NA O.N. | DE0008404005 | 4.2 | 2.1 | 2.1 |
| MUENCH.RUECKVERS.VNA O.N. | DE0008430026 | 4.6 | 2.4 | 2.2 |
| BAYER AG NA O.N. | DE000BAY0017 | 5.0 | 2.5 | 2.6 |
| DEUTSCHE BOERSE NA O.N. | DE0005810055 | 5.1 | 2.6 | 2.6 |
| INFINEON TECH.AG NA O.N. | DE0006231004 | 5.3 | 2.6 | 2.6 |
| DT.TELEKOM AG NA | DE0005557508 | 5.3 | 2.7 | 2.6 |
| BEIERSDORF AG O.N. | DE0005200000 | 5.7 | 2.9 | 2.7 |
| RWE AG INH O.N. | DE0007037129 | 5.8 | 3.0 | 2.8 |
| DEUTSCHE POST AG NA O.N. | DE0005552004 | 5.9 | 2.9 | 3.0 |
| PORSCHE AUTOM.HLDG VZO | DE000PAH0038 | 6.0 | 3.0 | 3.0 |
| VOLKSWAGEN AG VZO O.N. | DE0007664039 | 6.4 | 3.2 | 3.2 |
| DAIMLER TRUCK HLDG NA ON | DE000DTR0CK8 | 6.4 | 3.2 | 3.2 |
| QIAGEN NV EO -,01 | NL0015001WM6 | 6.6 | 3.3 | 3.3 |
| E.ON SE NA O.N. | DE000ENAG999 | 6.6 | 3.3 | 3.2 |
| BAY.MOTOREN WERKE AG ST | DE0005190003 | 6.6 | 3.3 | 3.3 |
| HENKEL AG+CO.KGAA VZO | DE0006048432 | 6.7 | 3.4 | 3.2 |
| BRENNTAG SE NA O.N. | DE000A1DAHH0 | 7.0 | 3.6 | 3.4 |
| VONOVIA SE NA O.N. | DE000A1ML7J1 | 7.3 | 3.8 | 3.5 |
| COMMERZBANK AG | DE000CBK1001 | 7.5 | 3.6 | 3.9 |
| RHEINMETALL AG | DE0007030009 | 7.7 | 3.9 | 3.8 |
| MERCK KGAA O.N. | DE0006599905 | 7.7 | 3.8 | 3.9 |
| HANNOVER RUECK SE NA O.N. | DE0008402215 | 8.2 | 4.1 | 4.1 |
| DR.ING.H.C.F.PORSCHE VZO | DE000PAG9113 | 8.2 | 4.1 | 4.0 |
| COVESTRO AG O.N. | DE0006062144 | 8.3 | 4.0 | 4.3 |
| ADIDAS AG NA O.N. | DE000A1EWWW0 | 8.4 | 4.1 | 4.3 |
| CONTINENTAL AG O.N. | DE0005439004 | 8.5 | 4.3 | 4.1 |
| HEIDELBERG MATERIALS O.N. | DE0006047004 | 9.5 | 4.8 | 4.7 |
| MTU AERO ENGINES NA O.N. | DE000A0D9PT0 | 9.7 | 4.8 | 4.9 |
| SYMRISE AG INH. O.N. | DE000SYM9999 | 9.8 | 4.8 | 5.0 |
| SIEMENS ENERGY AG NA O.N. | DE000ENER6Y0 | 10.3 | 4.8 | 5.5 |
| FRESENIUS SE+CO.KGAA O.N. | DE0005785604 | 10.6 | 5.5 | 5.1 |
| SIEMENS HEALTH.AG NA O.N. | DE000SHL1006 | 10.7 | 5.6 | 5.1 |
| SARTORIUS AG VZO O.N. | DE0007165631 | 11.8 | 5.9 | 5.9 |
| ZALANDO SE | DE000ZAL1111 | 14.2 | 6.8 | 7.4 |
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”.