CBOE to Limit Member Quoting

On Dec. 4, the exchange will begin a phased roll-out of a quote restriction system for market makers, remote market makers and designated primary market makers, which will block quotes submitted by a member into options classes where they have already quoted the levels allowed by the exchange.

CBOE calculates the number of quotes a member can submit based on average daily volume across different tiers of options classes. Members can trade any combination of option classes, provided the aggreg