News Summary: Fidelity, BlackRock team up on ETFs
News Summary: Fidelity, BlackRock's iShares teaming up to expand ETF alliance
FUND PARTNERSHIP: Fidelity Investments is ramping up its small presence in the rapidly growing exchange-traded fund business in a partnership with BlackRock Inc.'s iShares unit. IShares is the largest ETF provider and Fidelity is the second-largest mutual fund company.
MORE COMMISSION-FREE OPTIONS: The companies on Wednesday expanded an alliance begun three years ago. Fidelity customers can make commission-free trades on 65 iShares ETFs. That's more than double the number of ETFs covered under the earlier agreement.
EXPANDED ACCESS: IShares ETFs will now be offered to more investors because Fidelity has a huge customer base, including 18.5 million brokerage accounts.
