Banks of the future and the race to zero-fee trading

This post first appeared in Ryan Todd’s weekly column “The Interchange,” which is sent to Genesis members’ inboxes every Friday morning.

In what surely marks an end of an era, Fidelity finally waved the white flag yesterday and announced it would eliminate its $4.95 online commission trading, joining 5 other brokers that have made the move to zero commission fees over the last two weeks.