MATTER OF SALVANO

New York law applies in view of the parties' membership in the New York Stock Exchange ("NYSE"), since the arbitration agreement at issue is included in the Constitution and Rules of the NYSE, and since the contract of employment does not provide otherwise (see, Dolman v. United States Trust Co., 2 N.Y.2d 110, 116). The IAS Court properly ordered an expedited arbitration, on the basis of fairness and equity, in light of the Federal courts' temporary restraining orders (see, CPLR 7506 [b]). Nor is the IAS Court precluded from issuing such an order since it is not preempted by the Constitution and Rules of the New York Stock Exchange or the Federal Arbitration Act and it is not inconsistent with the provisions of either (see, Volt Information Sciences v. Stanford Univ., 489 U.S. 468).

We also find that defendants fail to sufficiently demonstrate a basis for overturning the arbitrators' award (see, Matter of Silverman [Benmor Coats], 61 N.Y.2d 299, 307-309).

Concur — Ellerin, J.P., Asch, Rubin and Nardelli, JJ.