March 31, 2011 at 17:21 PM EDT
Flash Crash, Part II? Trades In New FocusShares ETFs Busted
The new FocusShares ETFs have only been trading for two sessions, but have managed to attract attention for a number of different reasons already. The unit of Scottrade debuted 15 U.S. equity ETFs yesterday, making a splash in the ETF industry with rock bottom expense ratios that undercut many of the competitors. The new ETFs will also be available commission free in Scottrade accounts, helping to level the playing field with brokerages such as TD Ameritrade and Fidelity that have already rolled out commission free ETF trading [see FocusShares Debuts Bargain Basement ETFs]. But on Thursday several of the FocusShares ETFs were in the spotlight because of a series of events that triggered flashbacks to the Flash Crash of last year. Nasdaq said it canceled trades in 10 FocusShares ETFs on Thursday after some of the funds plummeted by as much as 98%. Nasdaq OMX canceled trades in ETFs that [...] Click here to read the original article on ETFdb.com. Related Posts: FocusShares Debuts 15 Low Cost ETFs FocusShares ETFs To Undercut Schwab, Vanguard
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