After the oral hearing, or on claims of $5,000 or less that are decided by a panel of the Arbitration Committee based on the written pleadings of the parties, the arbitrators deliberate and decide the claim and any counterclaims, cross-claims, and/or third-party claims. The policy of CME, like that of many other futures and securities industry organizations which offer arbitration programs, is to issue decisions without a discussion of the arbitrators' rationale. The advantages of economy and relative promptness offered by arbitration are maintained through the issuance of simple decisions that discourage costly and time-consuming litigation over an appeal. The decision is recorded on a document signed by a majority of the arbitrators, a copy of which is mailed to each party. The arbitrators' decision is final, the only right of appeal being as provided under applicable law. If the arbitrators have directed one party to pay an award to another party, payment is to be made within three business days of receipt of the notice of decision.

If an award of actual damages is made against a floor broker arising from a violation in the execution or handling of a customer order on the trading floor of CME and if the clearing member that selected the floor broker for the execution is deemed responsible as a principal for the floor broker's violation, the clearing member may be required to satisfy the award. The clearing member may be required to satisfy punitive damages awarded against the floor broker if: (1) the floor broker fails to pay, and (2) the clearing member willfully and intentionally selected the floor broker with the intent to assist or facilitate the floor broker's violation.