These are Associations which operate internationally. There is no question of ouster of the jurisdiction of a court, any more than there is ouster of the jurisdiction of the court when two men meet to dispose of their dispute over a glass of wine. The appellate structure is a part of the private process between them. Internal appellate processes of this kind are inherently more flexible than are the processes of the State or, for that matter of courts whose basis is more or less international. There are special benefits from having an internal appellate process within some esoteric trades and professions.
Banking is a profession which uses arbitration to a surprisingly limited extent.
A colleague told me recently that bankers were unwilling to risk the uncertainty of a decision from three law professors who understood little of banking practice. I found that hard to comprehend, because an arbitral tribunal is of the parties' own choice. For one thing, there are many law professors who know a good deal about banking. For another, although non-lawyers are not as common as once they were in international arbitration, it is perfectly possible to establish an arbitral tribunal of bankers or economists, perhaps with a corporate lawyer or some other relevant person as a member, perhaps with an experienced lawyer as an adviser or expert. In such an important sector, there might well be a good case for a specialist appellate tribunal, perhaps drawn from a standing panel, embracing the major areas of relevant expertise.