Abu Umaamah (radiallaahu anhu) reported that the Prophet (sallallaahu alaihi wasallam) said: "Recite the Qur'an for indeed it will come on the Day of Judgement as an intercessor for its Ashaab (those who read, memorize and implement it)." 
This hadeeth indicates the virtues of reciting the Qur'an, the greatness of its reward and that it will intercede for its holders on the Day of Judgement towards their entrance into Paradise.
An-Nawaas Ibn Sama'aan (radiallaahu anhu) reported: "I heard the Messenger of Allah (sallallaahu alaihi wasallam) say: 'The Qur'an will be brought on the Day of Judgement as well as the people who used to act upon it. Surat-ul-Baqarah and Aali 'Imraan will then approach them.' The Messenger of Allah (sallallaahu alaihi wasallam) likened them to three examples, which I have not forgotten afterwards. He (sallallaahu alaihi wasallam) said: 'As if they were two clouds or two dark black canopies with light between them both or like two flocks of birds stretching their wings in the air pleading for the one who recited them.'" 
'Abdullaah Ibn 'Amr (radiallaahu anhu) reported that the Messenger of Allah (sallallaahu alaihi wasallam) said: "The fast and the Qur'an will intercede for the servant on the Day of Judgement. The fast will say: 'My Lord, I restricted him from food and drink, so allow me to intercede for him.' And the Qur'an will say: 'I prevented him from sleeping at night, so allow me to intercede for him.' So they will be allowed to intercede." 
Therefore, it is essential for the person fasting to recite the Qur'an much during these blessed days and honorable nights. For indeed, there is a special virtue for the abundance of recitation in these days, which is not found in any other month. He should take advantage of the nobleness of time during this month, in which Allah revealed the Qur'an
There is a special merit to reciting the Qur'an in the nights of Ramadaan. For indeed, the night brings an end to the busy daily affairs, the enthusiasm is roused and the heart and the tongue mount upon reflecting. And Allah is the one in whom we seek assistance.
It is reported that Jibreel used to meet with the Prophet (sallallaahu alaihi wasallam) during each night of Ramadaan and they would study the Qur'an together.  So if making thikr (remembrance of Allah) were better than the Qur'an or equal to it (on these nights), they would have done that all the time or at certain times along with constantly gathering for that occasion.
Thus, this hadeeth illustrates the precedence of studying the Qur'an during Ramadan and gathering together for that occasion as well as turning towards one who is more prominent in the memorization of it.
The predecessors of this ummah would recite the Qur'an constantly during Ramadan And when they would fast, they would sit in the masaajid and say: "We will guard our fast and not backbite anyone."
They would recite the Qur'an in their prayer and out of it. 'Uthmaan (radiallaahu anhu) would complete the recitation of the (whole) Qur'an once a day. And some of the Salaf would complete it during their qiyaam in Ramadan every three nights. Some of them would do it every seven days and some every ten days.
Ash-Shaafi'ee would complete the Qur'an sixty times during Ramadan, while reciting it outside of prayer. Al-Aswad would recite the whole Qur'an every two nights of Ramadan Qataadah would always compete the Qur'an every seven days. He would do it every three days in Ramadan, and during the last ten days, he would do it every night. Their reports concerning that are famous.
Al-Haafidh Ibn Rajab (rahimahullaah) said: "The forbiddance of reciting the Qur'an in less than three days (as stated in a hadeeth) has only been mentioned in regards to its being done on a normal basis. As for the specific times that are virtuous, such as the month of Ramadan and especially the nights in which the night of Al-Qadr is sought. Or those places that are virtuous, such as Makkah for the one who enters it without residing there, then it is recommended to recite the Qur'an a lot in these times and places, seeking the merits connected with their time and place. This is the opinion of Ahmad, Abu Ishaaq and other scholars. And the actions of others indicate that as has been stated previously." 
The person reciting the Qur'an must observe the proper etiquettes of recitation. Some of them are that: He make his intention sincerely for Allah, that he recite it whilst being in a state of purity, that he use the Siwaak and that he recite it while pondering on its meaning and observing total consciousness. Allah says:
"A Book, which We have revealed to you in order that its verses may be pondered upon, so that the people of understanding may be reminded."
Also, from the etiquettes of the recitation is that one does not stop his reciting in order to speak to someone else. Indeed, when many people sit to recite the Qur'an, and there are people sitting next to them, a majority of the time, they stop their recitation and speak to their neighbors. This is not proper since it is turning away from the recitation without a valid reason.
And it is on the one who recites, to act upon the Qur'an, making permissible its Halaal and forbidding its Haraam, so that the Qur'an can be a proof for him on the Day of Judgement and intercede for him in entering the gardens of bliss
 Saheeh Muslim
 Reported by Muslim (804)
 Saheeh Muslim (804)
 Al-Bukhaaree (1/30) and Muslim (2308)
 Lataa'if-ul-Ma'aarif: pg. 102-103
Source: Ahaadeeth As-Siyaam: Ahkaam wa Adaab (pg.63-65) (trans. Ahl ul-Qur'an was-Sunnah Association, NY)