Someone told me that if the stock I want to buy/sell does not trade 100% electronically, my stock broker may need to handle physical share certificates. I was told that I could be charged a "New York Window" fee in connection with the handling of physical share certificates.
I may have misremembered some of details above, so my questions are:
- Is there really a fee called a "New York Window fee"?
- What exactly is this New York Window fee?
- Who charges this fee? Is it my broker? A clearing firm? The stock exchange?
I tried to look on Wikipedia and Investopedia, but there are no results. I also tried Google, but none of the results are relevant to stocks.
