According to the Xetra liquidity measure (XLM), E.ON AG was the most liquid DAX® blue chip in April with 5 basis points (bp) for an order volume of €100,000. K+S AG was the most liquid MDAX® stock with 20 bp. The most liquid ETF was the Lyxor ETF Euro Cash with 1 bp. The most liquid foreign stock was Royal Dutch Shell with 12 bp. XLM measures liquidity in electronic securities trading on the basis of the implicit transaction costs. It is expressed in basis points (1 bp = 0.01 percent); a low XLM denotes high liquidity in a security.
Siemens AG was the strongest DAX® stock on Xetra in April at €14.4 billion.
K+S AG was the top MDAX® stock at €2.9 billion while D+S Europa AG led the SDAX® stock at €140 million and Q-Cells AG headed the TecDAX® at €1.3 billion. At €2.2 billion, the iShares DAX EX was once again the exchange-traded fund with the largest turnover.
On all stock exchanges in Germany €192 billion were traded in April according to orderbook turnover statistics - a decline by 2.9 percent compared year-on-year (April 2007: €197.8 billion). This total included €182 billion in equities, warrants and exchange-traded funds, as well as €10.1 billion in fixed-income securities. The number of trades decreased by 2.8 percent to 24.4 million (April 2007: 25.1 million).
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