Scottrade To Launch Low-Cost ETFs

Scottradeis seeking to launch a set of low-cost exchange-traded funds (ETF),The Wall Street Journalreports. The discount brokerage firm will unveil proprietary domestic-equity funds that will track 15Morningstarindexes, covering the U.S. broad market, small-, mid- and large-cap stocks and 11 separate sectors.

Scottradwill also provide commission-free trades to its clients and investment advisers, who custody their assets at the firm. It will launch theFocus MorningstarETFs through itsFocusSharessubsidiary, which will be the portfolio sponsor.

Click here for the story fromThe Wall Street Journal.