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 | 2.6 | 1.3 | 1.3 |
| MERCEDES-BENZ GRP NA O.N. | DE0007100000 | 2.7 | 1.4 | 1.3 |
| SIEMENS AG NA O.N. | DE0007236101 | 2.9 | 1.4 | 1.4 |
| ALLIANZ SE NA O.N. | DE0008404005 | 3.5 | 1.7 | 1.7 |
| BASF SE NA O.N. | DE000BASF111 | 3.5 | 1.7 | 1.8 |
| BAY.MOTOREN WERKE AG ST | DE0005190003 | 3.6 | 1.8 | 1.8 |
| DEUTSCHE POST AG NA O.N. | DE0005552004 | 3.6 | 1.8 | 1.8 |
| VOLKSWAGEN AG VZO O.N. | DE0007664039 | 3.6 | 1.8 | 1.9 |
| BAYER AG NA O.N. | DE000BAY0017 | 3.6 | 1.8 | 1.8 |
| DEUTSCHE BANK AG NA O.N. | DE0005140008 | 3.8 | 1.8 | 2.0 |
| AIRBUS SE | NL0000235190 | 4.1 | 2.1 | 2.0 |
| INFINEON TECH.AG NA O.N. | DE0006231004 | 4.2 | 2.2 | 2.1 |
| DT.TELEKOM AG NA | DE0005557508 | 4.7 | 2.3 | 2.3 |
| RWE AG INH O.N. | DE0007037129 | 5.0 | 2.6 | 2.5 |
| ADIDAS AG NA O.N. | DE000A1EWWW0 | 5.1 | 2.6 | 2.5 |
| MUENCH.RUECKVERS.VNA O.N. | DE0008430026 | 5.2 | 2.6 | 2.6 |
| COMMERZBANK AG | DE000CBK1001 | 5.2 | 2.6 | 2.6 |
| DEUTSCHE BOERSE NA O.N. | DE0005810055 | 5.3 | 2.7 | 2.6 |
| BRENNTAG SE NA O.N. | DE000A1DAHH0 | 6.2 | 3.1 | 3.1 |
| MERCK KGAA O.N. | DE0006599905 | 6.2 | 3.2 | 3.0 |
| E.ON SE NA O.N. | DE000ENAG999 | 6.4 | 3.3 | 3.1 |
| HEIDELBERG MATERIALS O.N. | DE0006047004 | 6.4 | 3.3 | 3.2 |
| HENKEL AG+CO.KGAA VZO | DE0006048432 | 6.6 | 3.1 | 3.5 |
| QIAGEN NV EO -,01 | NL0012169213 | 6.7 | 3.3 | 3.4 |
| PORSCHE AUTOM.HLDG VZO | DE000PAH0038 | 7.0 | 3.4 | 3.5 |
| COVESTRO AG O.N. | DE0006062144 | 7.0 | 3.4 | 3.6 |
| SIEMENS HEALTH.AG NA O.N. | DE000SHL1006 | 7.1 | 3.5 | 3.6 |
| DAIMLER TRUCK HLDG NA ON | DE000DTR0CK8 | 7.3 | 3.5 | 3.8 |
| BEIERSDORF AG O.N. | DE0005200000 | 7.3 | 3.5 | 3.8 |
| SIEMENS ENERGY AG NA O.N. | DE000ENER6Y0 | 7.5 | 3.6 | 3.9 |
| FRESENIUS SE+CO.KGAA O.N. | DE0005785604 | 7.6 | 3.8 | 3.8 |
| RHEINMETALL AG | DE0007030009 | 7.8 | 3.9 | 3.9 |
| VONOVIA SE NA O.N. | DE000A1ML7J1 | 8.2 | 4.1 | 4.0 |
| MTU AERO ENGINES NA O.N. | DE000A0D9PT0 | 8.2 | 4.1 | 4.1 |
| SYMRISE AG INH. O.N. | DE000SYM9999 | 8.5 | 4.2 | 4.3 |
| CONTINENTAL AG O.N. | DE0005439004 | 8.6 | 4.3 | 4.3 |
| HANNOVER RUECK SE NA O.N. | DE0008402215 | 8.6 | 4.2 | 4.5 |
| DR.ING.H.C.F.PORSCHE VZOI | DE000PAG9113 | 9.1 | 4.6 | 4.5 |
| SARTORIUS AG VZO O.N. | DE0007165631 | 9.2 | 4.5 | 4.8 |
| ZALANDO SE | DE000ZAL1111 | 10.1 | 5.1 | 5.0 |
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”.