Dave Herron of Velox Clearing on Cheddar about Zero Trading Fees

A slight tilt has occurred recently in the financial world, and the people behind it are shaking things up… but at what cost?

Published October 21, 2019 5:56pm

The race to zero-commission in the world of trading is swift and it is coming fast. David Herron, Board Member at Velox Clearing and former CEO of the Chicago Stock Exchange joined Cheddar to discuss what has led to this moment, how trading is seen as a commodity, and how is it reshaping the financial world.

In this month alone, four major brokers got rid of stock trading commissions:InteractiveBrokers (NASDAQ:IBKR), CharlesSchwab (NYSE:SCHW), TDAmeritrade (NASDAQ:AMTD), and E*Trade (NASDAQ:ETFC)  got rid of stock trading commissions, creating a major shake-up in the brokerage industry.

In this Cheddar News clip, David Herron joins Cheddar to discuss what this news means to individual investors, the power behind the decision, and what it means to the brokerage industry as a whole.