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- FINRA Board of Governors - Election Notice
- Trump Signs Biggest Rollback of Bank Rules Since Financial Crisis
- SEC Commissioners Hold Investor Town Hall in Atlanta
- SEC Proposes FAIR Act Rules to Promote Research Reports on MFs, ETFs, Other Funds
- FINRA Markup/Markdown Analysis Report - Phone Workshop, WebEx Presentation
- NASAA Announces Coordinated International ICO and Crypto Crackdown
- New York Investment Advisor Settles SEC Insider Trading Charges
- Supreme Court Backs Companies Over Worker Class-Action Claims
- Bank of America Introduces Erica, Its AI Financial Assistant
- Banks Are Getting Another Volcker Rule Win
- Citigroup to Pay $7.3Mn Fine for Substandard IPO Work
- FINRA Stretches Definition of Participating in a Private Securities Transaction - Bill Singer
- Post Mortem Auto-Pilot Trading Sends Stockbroker's Career into Head-On Regulatory Crash
- Wells Fargo Has Shown Us Its Contemptible Values
- UBS to Counter Trading Troubles With M&A Work
- SEC Moves Quickly To Shut Down Fake Pre-IPO Share Scam
- SEC Testimony: Oversight of the SEC Division of Enforcement
- FINRA Modifies 'Agency Debt Security' in Rule 6710
- Is Jamie Dimon Doing a U-Turn on Bitcoin?
- After New Yorker's Racist Rant Goes Viral, His Law Firm Gets Pummeled with 1-Star Yelp Reviews
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Wall Street News
How Low Can You Go? Fidelity, Then Schwab, Slash Retail Commissions
Fidelity Investments has cut the commission it charges retail brokerage clients on trades for stocks and ETF by 38% - from $7.95 to $4.95. Fidelity said it also reduced option pricing to $0.65 per contract, down from $0.75. The move will likely put pressure on the rest of the U.S. brokerage industry.
"It puts the flag up that Fidelity is the value player in investing," said Ram Subramaniam, president of Fidelity’s retail brokerage business.
Hours after Fidelity released its plans, Charles Schwab matched the reduced prices, dropping its commissions from $6.95 to $4.95. The firm also matched Fidelity’s option pricing at 65 cents per contract.
Discount brokers TD Ameritrade and E*Trade Financial each charge $9.99 per trade.