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Originally published Tuesday, May 4, 2010 at 9:36 AM

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Summary Box: Vanguard offers free ETF trades

CHEAPER TRADING: Vanguard on Tuesday began offering commision-free trades for the company's 46 exchange-traded funds. Its brokerage customers also now will pay no more than $7 for stock trades.

The Associated Press

CHEAPER TRADING: Vanguard on Tuesday began offering commision-free trades for the company's 46 exchange-traded funds. Its brokerage customers also now will pay no more than $7 for stock trades.

COMPETITIVE RESPONSE: The move follows Fidelity Investments' decision in February to cut its online stock trading commission to $7.95. Charles Schwab began offering $8.95 trades in January. Both of those rivals also offer free trades for certain ETFs.

WHAT IT MEANS: Vanguard is trying to carve out a bigger piece of the growing ETF business, which poses a threat to the more established mutual fund business.

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