Fidelity [profile] is ready to get on the ETF bandwagon--with a vengeance.

According to the BostonHerald, Fido's efforts to gear up its fledgeling ETF operations will place it squarely in State Street [profile] territory.

Expect fireworks.

The newspaper notes that last March, Fidelity poached Anthony Rochte from State Street to build out its new ETF division. Then, last month, Fidelity filed plans with the Securities and Exchange Commission to "unleash its ETF onslaught" this year.

Fidelity Nasdaq Composite Index Tracking Stock, and provides its brokerage customers with access to hundreds of third-party ETFs, according to the Herald.

Will it doe well? Check out the Herald's analysis of the situation here. 

Edited by: Tommy Fernandez


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