Brokerage Charles Schwab to end commissions for three major products

(Reuters) – Discount brokerage company Charles Schwab Corp (N:) said on Tuesday it is eliminating commissions for online trading of stocks, ETFs and options listed on U.S. or Canadian exchanges.

Schwab will reduce the commission to zero from $4.95 per trade, starting Oct. 7, the company said.

Shares of Schwab fell 10% in early trading.

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