Why do we need real-time management? Currently, managers do not know what the Illex and Loligo squid populations are prior to the fishing season. Both Illex and Loligo live less than one year. It is critical that enough spawners survive from the previous year to produce the next year's squid populations. Catch per unit effort from mandatory logbooks are trip-based and do not provide enough information to estimate both Illex and Loligo stocks in-season. The current quotas for both Illex and Loligo are based on annual stock estimates that must account for poor recruitment in some years and so are set at conservative levels. Through real-time management, the chance of recruitment overfishing will be minimized and annual yield will be maximized. In the South Atlantic, real-time management programs are currently being used to manage both Illex aregentinus and Loligo gahi stocks in the Falkland Islands.

Both Illex and Loligo Squid Real-Time Management studies require the following: 1) daily reporting of catch, effort, and tow location by all vessels in the fleet; 2) weekly sampling and analysis of biological data (individual squid weight, mantle length and sexual maturity) and 3) an annual pre-fishery survey to estimate population size. In the 1999 Illex study, tow-based catch and effort data were provided voluntarily from 12 vessel captains of the F/Vs Persistence, Relentless, Darana R, Flicka, Drysten, White Dove, Retriever, Ranger, Amy Marie, Jersey Girl and Jersey Capes. Illex squid length and weight data were provided by Seafreeze Ltd., Lund's Seafood, Amory Seafoods and Ruggierio's Seafoods, Inc.

In the spring of 2000, a pre-fishery Illex survey was conducted by NMFS scientists with funding provided by MARFIN and the industry. Two fishing vessels, the Flicka from Cape May and the Relentless from Rhode Island participated in the survey. Both Rutgers University and the Virginia Institute of Marine Science scientists assisted with the survey. Data are currently being analyzed.