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Trading turnovers in May

05 Jun 2018

Trading turnovers in May

Cash Market: increased trading volumes, record in gold holdings

Deutsche Börse holds over 180 tonnes of gold in safe custody for first time / Cash markets’ May turnover up 10 per cent and totals €145.8 billion

While the trading volume on Deutsche Börse's cash markets in May with €145.8 billion was about ten percent higher than in May 2017, the gold holdings of Deutsche Börse broke through the 180-tonne mark for the first time. It currently stands at 181.8 tonnes compared to 174.2 tonnes at the start of the year. The amount of gold held always increases when investors purchase Xetra-Gold (ISIN: DE000A0S9GB0) via the stock exchange. For each certificate exactly one gram of physical gold is deposited in the German Central Vault for Securities in Frankfurt.

At the end of May, the gold price in euros reached its highest level since the start of the year and exceeded for a short time the mark of €36.00 per gram. “The uncertainty on the financial markets has considerably increased again,” said Steffen Orben, managing director at Deutsche Börse Commodities GmbH, issuer of Xetra-Gold. “Demand for Xetra-Gold is directly connected to the political uncertainty in Italy and its possible consequences for the EU.”

Of the total trading volume of €145.8 billion on the cash markets in May, €134.1 billion was attributable to Xetra, €3.3 billion to Börse Frankfurt and €8.3 billion to Tradegate Exchange. The largest turnover of €128.6 billion was reached through trading in equities. The DAX share with the highest turnover on Xetra in May was Siemens AG at €5.8 billion. ProSieben Sat1 Media SE led the MDAX equities with €860 million, while Puma SE topped the SDAX equity index with €902 million, and Wirecard AG headed TecDAX with €1.3 billion. The ETF with the highest turnover on Xetra was iShares Core DAX UCITS ETF with €1.7 billion.

Trading volumes May 2018 in billion euros:

 Xetra       Frankfurt    Tradegate    Gesamt   
Grand Total May 2018
Grand Total May 2017119.64.17.8131.5

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) at

Eurex: Record volumes in Eurex' Italian BTP segment

In May, Eurex‘ Italian BTP segment saw record volumes that were triggered by the forming of the new government. Traded volume more than doubled year-on-year reaching 7 million (+126 percent) while open interest stood at 0.7 million at month-end (+0.2 percent YoY). Overall, Eurex‘ interest rate segment grew by 45 percent (YoY).

Eurex offers the full suite of Exchange Traded Derivatives (ETD), both in futures and options, to hedge exposures in the Italian bond market. Furthermore, the instruments present an opportunity to trade the basis on Italian debt instruments, thus complementing the Italian cash market.

"What is encouraging is the volume increase in BTP both in futures and options," says Lee Bartholomew, Head of Fixed Income & FX Product Research and Development at Eurex. "Having this breadth of product coverage has allowed investors to hedge and position their portfolios accordingly. All this wouldn’t have been possible without the support of our members, who have provided liquidity in choppy markets."

Overall, Eurex trading volumes grew by 13 percent from 163.4 million traded contracts in May 2017 to 184.0 million in May 2018.