The Chicago Board Options Exchange (CBOE) filed with the Securities and Exchange Commission a proposed rule change pertaining to the minimum size requirement for market maker quotations. Currently, the initial size of a market maker’s electronic quotation must be for at least 10 contracts, unless the underlying primary market is disseminating a 100-share quote (in which case the quote size can be as low as one contract). In open outcry, the minimum quotation size is 10 contracts for non-broker-dealer orders and 1 contract for broker-dealer orders. The amended rule would give CBOE the flexibility to set a minimum quotation size requirement for electronic and open outcry quotes on a class by class basis (with a minimum of at least 1 contract).

http://sec.gov/rules/sro/cboe/2008/34-58828.pdf