DAX

DAX

DAX

Blue chip stock market index

For other uses, see Dax (disambiguation).

The DAX (Deutscher Aktienindex (German stock index); German pronunciation: [daks] ⓘ) is a stock market index consisting of the 40 major German blue chip companies trading on the Frankfurt Stock Exchange. It is a total return index. Prices are taken from the Xetra trading venue. According to Deutsche Börse, the operator of Xetra, DAX measures the performance of the Prime Standard's 40 largest German companies in terms of order book volume and market capitalization.[2] DAX is the equivalent of the UK FTSE 100 and the US Dow Jones Industrial Average, and because of its small company selection it does not necessarily represent the vitality of the German economy as a whole.

Quick Facts Foundation, Operator ...

The L-DAX Index is an indicator of the German benchmark DAX index's performance after the Xetra trading venue closes based on the floor trading at the Börse Frankfurt trading venue. The L-DAX Index basis is the "floor" trade (Parketthandel) at the Frankfurt stock exchange; it is computed daily between 09:00 and 17:45 Hours CET.[3] The L/E-DAX index (Late/Early DAX) is calculated from 17:55 to 22:00 CET and from 08:00 to 09:00 CET. The Eurex, a European electronic futures and options exchange based in Zürich, Switzerland with a subsidiary in Frankfurt, Germany, offers options (ODAX) and Futures (FDAX) on the DAX from 01:10 to 22:00 CET or from 02:10 to 22:00 CEST.[4]

The Base date for the DAX is 30 December 1987, and it was started from a base value of 1,000. The Xetra technology calculates the index every second since 1 January 2006.

On 24 Nov 2020, Deutsche Börse announced an expansion of the DAX from 30 to 40 members and a tightening of rules in response to the Wirecard accounting scandal.[5] The expansion occurred in the 3rd quarter of 2021.[6]

Versions

The DAX has two versions, called performance index and price index, depending on whether dividends are counted. The performance index, which measures total return, is the more commonly quoted, however the price index is more similar to commonly quoted indexes in other countries.[citation needed]

Contract Specifications

DAX futures are traded on the Deutsche Borse Indices & ETF exchange (DBIndex). The contract specifications for the DAX Combined Index (ticker symbol DAXA) are listed below:

Contract Specifications[7]
DAX Combined Index (DAXA)
Exchange: DBIndex
Sector: Index
Tick Size: 0.01
Tick Value: 1 EUR
Big Point Value (BPV): 100
Denomination: EUR
Decimal Place: 2

Price history

On 16 March 2015, the performance index first closed above 12,000.[8] On 10 April 2015, the price index first closed above its closing high from 2000.[citation needed]

Record values

More information Category, All-time highs ...

Annual returns

The following collapsible table shows the annual development of the DAX, calculated retroactively up to 1950.[10][11]

More information Year, Closing level ...

Components

Below is the list of companies which are a component of the DAX 40, as of 20 March 2023. The current stock prices and list of DAX companies are available from financial websites.[12][13] The index weighting refers to the DAX performance index.[14]

More information Logo, Company ...

^Note 1 : Weightings as of 23 March 2023[14]

Former DAX components

This table lists former DAX components and the companies which replaced them.

More information Date, Component excluded ...
DAX 30 chart at the Frankfurt Stock Exchange
A BMW Z4
The RWE-owned Niederaussem Power Station
The headquarters of DAX companies in 2013

See also

Stock market lists
Other lists
Other stock market indices
  • List of stock market indices
  • CDAX, every listed German company
  • HDAX, union of DAX, MDAX and TecDAX (successor to DAX 100, and equivalent of the FTSE 100 or the S&P 100)
  • MDAX, the next 50 largest companies after the DAX
  • SDAX, the next 70 largest companies after the MDAX
  • ÖkoDAX, top 10 companies in renewable energy
  • TecDAX, top 30 companies trading in the "new economy"

References

  1. [1]
    "DAX Market capitalization | Markets Insider". markets.businessinsider.com.
  2. [2]
    "DAX". deutsche-boerse.com.
  3. [3]
    "Trading Parameter Xetra Frankfurt" (PDF). Xetra. 23 November 2020. Archived (PDF) from the original on 26 August 2021.
  4. [4]
    "Extension of trading hours for selected benchmark futures and MSCI futures" (PDF). Eurex Exchange. 15 November 2018. Archived (PDF) from the original on 26 August 2021.
  5. [5]
    "Germany's DAX to expand to 40 members from 30 in index shake-up". Reuters. 24 November 2020 – via www.reuters.com.
  6. [6]
    Ramakrishnan, Shriya; Kumaresan, Shivani (24 November 2020). "Germany's DAX index gets shake-up in wake of Wirecard scandal - Metro US". www.metro.us.
  7. [7]
    "Historical DAX Combined Index Intraday Data (DAXA)". PortaraCQG. Retrieved 30 September 2022.
  8. [8]
    "Dax breaks 12,000 barrier". Financial Times. Archived from the original on 10 December 2022.
  9. [9]
    "DAX Performance Index (^GDAXI)". Yahoo! Finance. Retrieved 9 April 2024.
  10. [10]
    "Index DAX (846900) | Indexstand | Börsenkurs | Kurs | Tool - boerse.de". 19 October 2010. Archived from the original on 19 October 2010. Retrieved 20 January 2020.
  11. [11]
    DAX. "DAX Digital | DAX® (TR) EUR". dax-indices.com. Retrieved 20 January 2020.
  12. [12]
    "DAX 30 Liste | DAX Werte | DAX Aktien". finanzen.net (in German). Retrieved 24 September 2019.
  13. [13]
    "DAX 30 Liste: Dax Realtime-Kursliste | DAX Aktien | DAX Werte | Dax Unternehmen". boerse.de (in German). Retrieved 24 September 2019.
  14. [14]
    dax-indices.com. "Index Composition Report" (xls). Retrieved 17 October 2020.
  15. [15]
    Deutsche Börse: Deutsche Börse ab dem 23. Dezember im DAX Archived 11 January 2009 at the Wayback Machine Pressemitteilung, 12. November 2002
  16. [16]
    Frankfurter Allgemeine Zeitung: Merck ersetzt Altana im DAX
  17. [17]
    Deutsche Börse: K+S ersetzt TUI in DAX Archived 11 January 2009 at the Wayback Machine Pressemitteilung, 3 September 2008
  18. [18]
    "Fresenius und Hannover Rück steigen in Dax auf". Handelsblatt (in German). 4 March 2009. Retrieved 24 June 2021.
  19. [19]
    "Sep 2019 Media release" (PDF).
  20. [20]
    "Deutsche Lufthansa to leave Germany's DAX Index". Marketwatch. 5 June 2020. Retrieved 5 June 2020.
  21. [21]
    "Unscheduled Component Change in DAXSelection Indices" (PDF). STOXX. 19 August 2020.
  22. [22]
    "Composition Changes for DAX, MDAX, SDAX and TecDAX Indices" (PDF). STOXX. 3 March 2021.
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