In November 2008, the number of trades executed on Xetra reached 18.3 million transactions â down just under 5 percent compared to November 2007 with19.3million trades. Order book turnover on Xetra recorded â¬114.5 billion (November2007: â¬230.4 billion), down by around 50 percent.On Xetra and the Frankfurt floor â¬110.3 billion were turned over in German equities and â¬8.8 billion in foreign shares. 97 percent of the transaction volume with German equities and 90 percent of foreign equities were traded on Xetra and on the floor at BÃ¶rse Frankfurt.According to the Xetra liquidity measure (XLM), Deutsche Telekom AG was themost liquid DAX blue chip in November with 14 basis points (bp) for an order volume of â¬100,000. Altana AG was the most liquid MDAXÂ® stock with 38 bp.Themost liquid ETF was db x-trackers ETF II-EONIA T.R. 1C with 1 bp. The most liquid foreign stock was Nokia Corp. with 28 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.Volkswagen AG was the strongest DAX stock on Xetra in November at â¬7.8 billion.Salzgitter AG was the top MDAX stock at â¬793.3 million, while Fielmann AG led the SDAXÂ® at â¬61.5 million and Q-Cells AG headed the TecDAXÂ® at â¬1.1 billion.At â¬1.4 billion, the iShares DAX was the exchange-traded fund with the largest turnover.On all stock exchanges in Germany â¬137.4 billion were traded in November according to order book turnover statistics â a decline by just under 49 percent compared year-on-year (November 2007: â¬267.3 billion). This total includes â¬126.8 billion in equities, warrants and exchange-traded funds, aswell as â¬10.6 billion in fixed-income securities. The number of trades at all exchanges added up to 28.1 million (November 2007: 33.3 million) which is adecrease by just under 16 percent.