(FORTUNE Magazine) – Fallout from the crash keeps pouring down. Among the latest developments: -- Hordes of investors are filing claims with arbitration panels against brokers. Common complaints: unauthorized trading and failure to execute sell orders. Taking a broker to court is often out of the question because customers opening accounts commonly sign an agreement that says all disputes must be settled by arbitration. ''Many people don't even realize they have waived their rights to a court trial,'' says Richard Shell of the Wharton School. Arbitration caseloads are up more than 50% at some exchanges in the past year, and Deborah Masucci, director of arbitration at the National Association of Securities Dealers, whose members trade stocks over the counter, expects about a 50% rise this year. -- Traders at the Chicago Board Options Exchange and the American Stock Exchange are independently planning to refund a total of over $2 million to customers who traded certain stock index options on October 20. ''It's a good- will gesture,'' says CBOE President Charles Henry. A little public relations isn't a bad idea, considering that option trading has declined over 50% at both exchanges since October 20. -- Shearson Lehman Hutton, Merrill Lynch, and Goldman Sachs recently decided to stop program trading for their own accounts. The moves are intended to calm small investors and appease big ones. Robert Kirby, head of Capital Guardian Trust Co., a major money manager, said he would take his company's business away from brokerages that continued program trading. Brady Commission member Kirby stuck to his word and took some business away from Kidder Peabody, Morgan Stanley, and Salomon. Whether program trading increases volatility remains an open question, and in any case it isn't going away. Firms halting program trading for their own accounts will continue it for clients'.