Filings continue to rise through 2003
NYSE STATS, 2/03:
From the News & Updates section of the NYSE Arbitration WebSite, we have arbitration statistics through the month of February 2003. The Exchange is now refreshing its statistical summary of cases filed and closed each month.
We reported on the month of January in last weeks Arb Alert (SAA 03-09) and found the new tables when visiting www.nyse.com/arbitration this week. 95 new claims were filed in January and another 106 were recorded in February. This compares to 100 filed in January 2002 and 137 filed in February 2002. Thus, the momentum seems comparable to that of last year, but at a somewhat slower pace (201 vs. 237 claims filed).
Customer-related claims, as a segment of the total, added another 86 claims to the 73 that were filed in January, but the total of 159 for the first two months lags last years figure of 210. Industry claims involving employees or non-members are on an uptick, as 40 new claims were filed in the first two months (21 & 19) versus the 25 filed for the same period in 2002 (15 & 10).
NYSE does not reflect its average turnaround time in these figures, although that average has historically been excellent. We can see, though, that NYSE continues to close cases at a growing rate. Thus, in the first two months of 2003, the forum closed 144 cases versus 113 and 75 for the same periods in 2002 and 2001.
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