The panel, known as the Dispute Resolution Chamber (DRC), made headlines when it judged that Chelsea had induced French teenager Gael Kakuta to break his contract with Racing Lens in 2007.
"ECA urges FIFA and UEFA to look immediately into speeding up the decision process of their Dispute Resolution Chambers," ECA said in a statement.
"It is becoming a current practice to use the fact that the judgement is very slow not to respect the commitments towards other clubs.
"This very important topic, which shouldn't be underestimated by the governing bodies, has a major impact on financial discipline and overall how clubs are run."
"There is no great concern because at the moment we think we are in a situation where we are growing up," he said.
"Now we are on the top of the decision making process and feel we are in a moment where co-operation with FIFA and UEFA is very useful and profitable."
