The commission-free ETF platform idea continues to spread, this time to a clearing and custody giant that supports broker-dealers, as well as RIAs.

Trevor Hunnicutt of InvestmentNews reports that Pershing might launch its own commissions-free ETF trading platform. Pershing, part of BNY Mellon, works with about 900 B-Ds and 700 RIAs.

"We're actively looking at that as a further potential solution, evaluating many things including the economics of the program," Sandy Bolton, managing director of financial solutions at Pershing, tells the trade publication. "We want to ensure when we launch a program like that, that it is a robust platform."

RIA custody giants Charles Schwab, Fidelity and TD Ameritrade already offer such platforms as a way for the advisors they support to avoid the commissions normally required to trade ETFs. 

Edited by: Neil Anderson, Managing Editor


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