AMENDMENT TO RULE 607 CONCERNING THE RANDOM LIST SELECTION METHOD OF ARBITRATOR APPOINTMENT
 

Information Memo  06-85  is available for viewing or printing with Adobe Acrobat
 
Number 06-85 12/21/2006
 
ATTENTION:   CHIEF EXECUTIVE OFFICER/MANAGING PARTNER, LEGAL AND COMPLIANCE DEPARTMENTS
 
TO:   ALL MEMBERS AND MEMBER ORGANIZATIONS
 
SUBJECT:   AMENDMENT TO RULE 607 CONCERNING THE RANDOM LIST SELECTION METHOD OF ARBITRATOR APPOINTMENT
 



    On December 11, 2006, the Securities and Exchange Commission approved
    an amendment to New York Stock Exchange (the “Exchange”) Rule 607. This amendment allows claimants to request the Random List Selection method of arbitrator appointment in any arbitration matter not involving customers. It does not impact the customers’ ability to request Random List Selection. In all cases involving customers, the customers’ choice of arbitrator selection method always prevails.
      Under the Random List Selection method of arbitrator appointment, parties are sent a randomly generated list of arbitrators, and each party has a limited number of strikes. The Exchange will continue to offer staff appointment of arbitrators, and to accommodate any reasonable alternative way to select arbitrators, provided the parties agree.

      The provisions of amended Rule 607 are effective as of December 15, 2006. The text of Rule 607, as amended, is attached as Exhibit A.
      Questions concerning this memorandum should be directed to Karen Kupersmith, Director of Arbitration at (212) 656-4865.

    _______________________________________
    Daniel Beyda
    Chief Administrative Officer
    NYSE Regulation

    Attachments



    Info Memo Amendment to Rule 607 Exhibit A.doc