Arbitration Statistics

As of June 30, 2021


Cases Filed
Calendar Year Customer1 Member2 Total
2021 9 1 10
2020 45 4 49
20193 319 4 323
2018 29 8 37
2017 26 2 28

 

Cases Closed
Calendar Year Customer Member Total
2021 14 1 15
2020 88 3 91
2019 40 3 43
2018 26 7 33
2017 30 0 30

 

Turnaround Time (in months)
Calendar Year Oral Hearings Summary Proceedings4 Overall5
2021 27 11 9.5
2020 20 6.9 8.3
2019 N/A 8 4
20186 16 N/A 6
2017 12 7 6

 

Number of Closed Cases by Reason7
Calendar Year Oral Hearings Summaries All Settlements Other8
2021 1 1 2 4 9
2020 1 1 2 47 42
2019 0 2 2 12 29
2018 5 0 5 11 17
2017 4 5 9 9 12

 

Percentage of Closed Cases by Reason
Calendar Year Hearings Settlements Other
2021 13% 27% 60%
2020 2% 52% 46%
2019 5% 28% 67%
2018 15% 33% 52%
2017 30% 30% 40%

 

Awards in Customer Cases
Calendar Year Total Awards10 Awards to Customers11 Average % of Compensatory Claim12
2021 2 1 84%
2020 2 0 N/A
2019 1 1 32%
2018 2 0 N/A
2017 9 6 44%



1 These are cases where at least one party is a public customer.

2 These are primarily cases between and among NFA Members and Associates. None of them involve public customers.

3 The total Customer Claims filed in 2019 includes a group of 250 related claims filed by Customers and Members.

4 Summary proceedings are decided without an oral hearing and are based on the pleadings and exhibits submitted by the parties.

5 This is all closed cases, including cases that settle and those that are rejected, withdrawn, or terminated for other reasons.

6 2018 closed cases include two separate groups of cases that—at the request of the parties—were each consolidated. Consolidated cases involve multiple parties and representatives, which can cause scheduling delays leading to longer-than-average turnaround times.

7 All cases - Customer and Member.

8 These are cases that are rejected, withdrawn, or terminated for other reasons (e.g., bankruptcy).

9 These are cases that are rejected, withdrawn, or terminated for other reasons (e.g., bankruptcy).

10 All customer cases with a decision, including cases where the customer lost.

11 Does not include awards where customers were given costs and fees only.

12 Only in cases where customers received an award.