On January 4th, the SEC approved separately proposed guidance from the New York Stock Exchange and NYSE Amex providing updated parameters for, and guidance on the application of, each Exchange's Gap Quote Policy. Each policy provides that when an imbalance in a security exists, the security's Designated Market Maker should widen the bid/offer spread ("gapping the quote"), signaling the existence of the imbalance to the market in order to attract contra-side liquidity and mitigate volatility. As of January 11, 2010, the minimum size of an imbalance triggering a gap quote for a security will be reduced from 10,000 shares or a quantity with a value of $200,000, to 5,000 shares or $100,000. See also NYSE Information Memo 10-03.