Vanguard will trade many etfs with no trading fee on its platform [in the US?], including etfs from other asset managers. Which I guess is a move against the pay-to-list fees that etf managers pay to investment platforms. https://theetfeducator.com/2018/07/05/vanguard-goes-nuclear/
Like: if you usually pay a fee to list your etf on TD Ameritrade or whoever, and then you recoup the cost in your expense ratio, now Vanguard’s saying “Nah, we won’t charge that on our platform”, and I guess you’re thinking “No fees on the V platform is cool and higher margin for me, except now I’m competing with V’s own etfs which have lower fees. Huh, maybe I need a new version of my fund that has lower fees that I’ll put on V and any other no-trading-fee platform”. Investors win.
(I may have misunderstood this horribly.)