DAX
DAX performance between 1959 and 2012
Foundation	1 July 1988
Operator	Deutsche Börse
Exchanges	Frankfurt Stock Exchange
Constituents	30
Type	Large cap
Market cap	€598 billion (Aug 2012)[1]
Weighting method	Capitalization-weighted
Related  indices	MDAX, SDAX, TecDAX, ÖkoDAX
Website	DAX homepage

The DAX (Deutscher Aktien IndeX, formerly Deutscher Aktien-Index (German stock index)) is a blue chip stock market index consisting of the 30 major German companies trading on the Frankfurt Stock Exchange. Prices are taken from the electronic Xetra trading system. According to Deutsche Börse, the operator of Xetra, DAX measures the performance of the Prime Standard’s 30 largest German companies in terms of order book volume and market capitalization.^[2] It is the equivalent of the FT 30 and the Dow Jones Industrial Average, and because of its small selection it does not necessarily represent the vitality of the economy as whole.

The L-DAX Index is an indicator of the German benchmark DAX index's performance after the Xetra electronic-trading system closes based on the floor trading at the Frankfurt Stock Exchange. The L-DAX Index basis is the "floor" trade (Parketthandel) at the Frankfurt stock exchange; it is computed daily between 09:00 and 17:30 Hours CET. The L-DAX index (Late DAX) is calculated from 17:30 to 20:00 CET. The Eurex, a European electronic futures and options exchange based in Zurich, Switzerland with a subsidiary in Frankfurt, Germany, offers options (ODAX) and Futures (FDAX) on the DAX from 08:00 to 22:00 CET.

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

Components [edit]

A list of the current DAX companies, as of the quarterly review effective on 24 September 2012.

	Company	Prime Standard industry group	Ticker symbol	Index weighting (%)1	Employees
	Adidas	Clothing	ADS	2.04	86,824
	Allianz	Insurance	ALV	6.66	151,340
	BASF	Chemicals	BAS	9.62	111,141
	Bayer	Chemicals	BAYN	7.55	111,800
	Beiersdorf	Consumer goods	BEI	0.86	19,130
	BMW	Manufacturing	BMW	3.26	102,007
	Commerzbank	Banking	CBK	1.01	56,221
	Continental	Manufacturing	CON	0.79	170,000
	Daimler	Manufacturing	DAI	5.77	267,274
	Deutsche Bank	Banking	DBK	5.05	100,474
	Deutsche Börse	Securities	DB1	1.47	3,588
	Deutsche Lufthansa	Transport Aviation	LHA	0.83	118,088
	Deutsche Post	Communications	DPW	1.90	424,351
	Deutsche Telekom	Communications	DTE	5.38	235,132
	E.ON	Energy	EOAN	6.24	85,105
	Fresenius	Medical	FRE	1.63	149,351
	Fresenius Medical Care	Medical	FME	2.16	73,450
	HeidelbergCement	Building	HEI	0.86	53,440
	Henkel	Consumer goods	HEN3	1.53	47,753
	Infineon Technologies	Manufacturing	IFX	1.27	26,658
	K+S	Chemicals	SDF	1.18	15,170
	Lanxess	Chemicals	LXS	0.73	14,650
	Linde	Industrial gases	LIN	3.81	62,000
	Merck	Pharmaceuticals	MRK	0.97	40,676
	Munich Re	Insurance	MUV2	2.92	46,915
	RWE	Energy	RWE	2.19	70,860
	SAP	IT	SAP	7.70	61,344
	Siemens	Industrial, electronics	SIE	9.96	405,000
	ThyssenKrupp	Industrial, manufacturing	TKA	1.33	180,050
	Volkswagen Group	Manufacturing	VOW3	3.36	549,763

^Note 1 : Weightings accurate on 24 September 2012. Source: de:DAX.

Former components of DAX [edit]

DAX 30 chart in the Frankfurt Stock Exchange.

A BMW Z4.

Inside a branch of Metro's Real hypermarket chain in Würzburg.

The RWE-owned Niederaussem Power Station.

The headquarters of the DAX companies.

Following table lists the former components of DAX and the ones replaced them.

See also [edit]

• CDAX, every listed German company
• HDAX, the top 110 companies by market capitalisation (successor to DAX 100, and equivalent of the FTSE 100 or the S&P 100)
• MDAX, the top 50 companies after the DAX
• SDAX, the next 50 companies
• TecDAX, top 30 companies trading in the "new economy"
• ÖkoDAX, top 10 companies in renewable energy

References [edit]

External links [edit]

• DAX homepage
• Bloomberg page for DAX:IND
• DAX Fourier Components
• DAX 30 Profle at Wikinvest