Currently the minimum requirement quote size shown by the market makers on level 2 is 5,000 if the stock is under .50 cents per share. If it's above .50 cents but under 1 dollar the minimum the market maker has to show is 2,500. From 1 dollar to 10 dollars it's 500. This was a great way for the market makers to hide their size on the bid and ask.
The pilot program beginning November 5, 2012 will modify the current tier structure and every market maker will honor these minimum size quotes. Shares trading from .0001-.0999 will require the market maker to show a minimum size of 10,000. ..from 10 cents to .1999 will be 5,000 ..20 cents to 50 cents 2,500. and so on..
It is important to note these are minimums, not maximums. Therefore, if you see on L2 a MM offering to sell 5,000 shares at .058 with the next MM down the list offering 250,000 shares at .059, and you put in a limit order for 50,000 shares at .059, don't be surprised when you get them all at .058 and nothing on L2 changes.
I guess Fed President was a pupil of NITE and got taught how to print shares, now he prints money. The get shares as they like as they have them stored in the cellar as no printing press can run fast enough.
News 
Market Data 
Discover 
