Each of the stock exchanges offer arbitration forums, as does the National Association of Securities Dealers, Inc. and the American Arbitration Association. For the NASD and the Exchanges, in order to use their forums, the brokerage firm must be a member of that organization. Since every stock broker and every brokerage firm is a member of the National Association of Securities Dealers, and are bound by the rules of the NASD to arbitrate their disputes at the NASD, the NASD is the largest arbitration forum. The NASD received nearly 9,000 arbitration filings in 2003. NASD Dispute Resolution, Inc. One Liberty Plaza 165 Broadway New York, New York 10004 212-858-4400 NASD Code of Arbitration Procedure The New York Stock Exchange  20 Broad Street New York, New York 10005 212) 656-2772 American Arbitration Association 140 West 51st. Street  New York, NY 10020-1203  212-484-3266