Turnover on Deutsche Börse’s cash markets totalled €135.7 billion in March, a significant increase on the €120.9 billion seen in the same month of 2016.
This increase was largely driven by the daily auctions in Xetra trading, which are held at opening, midday and end of trading. Order book turnover in auctions provided 52% of the total daily cash market volume on March 17, for example, thanks to the fact that this was a key expiry date for many equity futures contracts. The March 17 closing auction on its own provided 43% of the total turnover that day.
Xetra auctions are used by trading participants primarily for large-volume orders, as the liquidity in the order book is bundled and thus particularly high.
Out of total cash market turnover during the month, €123.6 billion was attributable to Xetra, where average daily volumes totalled €5.4 billion, €4.3 billion to Börse Frankfurt and €7.8 billion to the Tradegate Exchange.
Deutsche Bank AG saw the highest turnover of any single DAX stock during the month, with €7.4 billion.
Covestro AG saw the largest turnover of any single MDAX stock, with €1.4 billion, while Rocket Internet SE topped the SDAX equity index on €166 million and Wirecard AG headed the TecDAX on €579 million.
The Eurex Bonds electronic trading platform saw total volumes of €5.7 billion in March, with trading in government bonds taking the bulk of that, compared with €8.1 billion in the same month of last year.
Further details are available online in Deutsche Börse’s cash market statistics. For a pan-European comparison of trading locations, see the statistics provided by the Federation of European Securities Exchanges (FESE).