Deutsche Bank’s market capitalization increased during 2012 by € 3.3 billion to € 30.6 billion. The average daily trading volume on Xetra fell by 1.3 million to 7.6 million shares compared to 2011. This decrease more than offset the increase in share price and, consequently, the full-year value of Xetra trading fell from € 133 billion to € 127 billion in 2012. Nonetheless, the Deutsche Bank share remained the second-most traded share by value among DAX shares on Xetra. The Deutsche Bank share’s weighting in the DAX decreased slightly to 4.6 % (2011: 5.2 %). On the New York Stock Exchange, the average volume of trading in our share decreased by 18 % in 2012. This decline was mainly attributable to the lower interest of American investors in European banks, which was caused by the high level of uncertainty regarding the macroeconomic and regulatory environment.