Knowledge Discovery – Abstraction, Coding and Web Research
Data Analysis Services for reviewing more than 20,000
NASD and NYSE award cases
We were approached by a leading Securities
Arbitration Lawyer and Investment Advisor to go through
more than 20,000 NASD and NYSE award cases.
The client wanted us to go over these award cases to
analyze and investigate the fairness of the mandatory
arbitration system imposed by the securities industry on
There were three phases/stages in this project:
Phase I – In this phase, we abstracted
information from around 18,000 award cases for the years
1994-2004 and coded them into 95 pre-defined fields in
an excel database. Each of the Brokerage Firms involved
in the cases had to be given a specific coding.
Result – The project involved the marking of
the relevant fields in the document and then entry of
the relevant data into the database with 99.99% accuracy
Phase II – In the next phase we had to a full
scale internet search on all the Brokerage firm involved
in the arbitration awards from 1994-2004 to determine
The firms that were registered with NYSE.
The firms that were registered with NASD.
The firms that were registered with both NYSE
The firms that had ceased functioning and the
year of their closure along with the URL/source from
where the information was extracted.
The firms that had either merged/amalgamated or
acquired by another Brokerage Firm. For instance, if
DLJ worked independently from 1994-1996 then it had
to be coded as 'DLJ' for that time period. If it
merged into CSFB in 1997 then it had to
appropriately coded as 'CSFB' for cases awarded from
Results – The main challenge of this phase was
to find information about the firms that were not
registered with either NASD or NYSE. We understood the
requirements well. If we could not locate the firm via
Google search then we went to specific state sites and
found the required details.
Based on work executed by SunTec in these two phases,
the client recently published a statistical analysis of
'how claimants fare in mandatory arbitration of
Phase III – The client recently sent us around
500 NYSE award cases for the years 2004-2006 to analyse,
abstract and code it in a similar fashion. The client is
in the process of constructing a statistical analysis of
the relevant period based on the work done by SunTec.
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