Market quality

Market quality

  • Xetra® offers the best price more often than any competitor – and as such is the market leader in trading in German blue-chips.
  • Combining quantitative and qualitative factors, Xetra is your first-choice trading venue for German equities.
  • Quantitative data are important, but are not the sole determinant of market quality. To mention just some of the key qualitative factors: Xetra offers absolute neutrality, transparency and straight-through processing.
 

In an increasingly fragmented market for European equities, it is difficult for investors and traders to judge the market quality of different trading venues on a continual basis. Xetra stands for first-class market quality, as shown by excellent results in comparison with other European trading venues.

Market share DAX

Rank

Venue

Market share

1

Xetra

63.84%

2

Cboe

26.48%

3

Aquis Europe

5.46%

4

Turquoise Europe

4.22%


Spreads DAX

at 10k

Rank

Venue

Spread (bps)

1

Xetra

4.38

2

Cboe DXE

4.98

3

Aquis Europe

6.43

4

Turquoise Europe

23.84


Best prices DAX

10k EUR deal

Rank

Venue

Best price

1

Xetra

21.84%

2

Cboe DXE

7.40%

3

Aquis Europe

2.63%

4

Turquoise Europe

0.60%

 

Status: January 2024

Legend:

For pan-European trading venue operators, market shares take into account turnover on EU and UK trading venues. For spreads and best prices, EU trading venues are shown.

Market share

Market share is based on the order book volume. An average of all equities in the index is calculated.

Spreads

For the spreads, the bid/ask spread of visible orders in the order book is measured. An average of all equities in the index is calculated from the result.

Spreads „10 k EURO deal“

The bid/ask spread for an order volume of €10,000.

Best prices

Best prices show how often a trading platform posts an absolute best share price (no ties). An average of all equities in the index is calculated from the result.

Source: big XYT, own calculations

Market Status

XETR

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Parts of the trading system are currently experiencing technical issues

The trading system is currently experiencing technical issues

Xetra newsboard

The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.

Please find further information about incident handling in the Emergency Playbook published on the Xetra webpage under Technology --> T7 trading architecture --> Emergency procedures. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message

We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.


Emergency procedures


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