所谓做市商,一般指在证券市场上,由具备一定实力和信誉度的证券经营法人作为主要的集中型经纪商,不断向公众交易者报出某些特定证券的买卖价格,并在所报价位上接受公众买卖要求,通过做市商的这种不断买卖价维持市场的一定流动性,满足一般投资者的投资要求,而做市商则通过买卖报价的适当差额来补偿所提供服务的成本费用,并实现一定的利润。首先,做市商最重要的作用是能够活跃证券交易。做市商不断向市场报出买卖价格,并一般对公众交易者在自己所报价位上的买卖指令不予拒绝。做市商作为证券经营经纪机构,囤积大量的证券等待别人购买不太可能,而且有时难以满足购买者的需求。针对这些问题,应允许做市商有一定融资券业务,这从某种程度上增加了证券市场的虚拟供求,自然就增加了一定流动性。其次,做市商可以使国债市场保持必要的波动。适度投机可以活跃市 The so-called market maker, generally refers to the securities market, with a certain strength and credibility of the securities companies as the main focus of centralized brokers, to the public traders continue to report the sale price of certain specific securities, and the quoted price The demand for public sale is accepted by the marketplace and the market liquidity is maintained at a constant liquidity level by market makers to meet the investment needs of the average investor while the market maker compensates for the cost of the services rendered through the appropriate balance of sale and purchase quotes Cost, and achieve a certain profit. First, the most important role of market makers is to be able to actively trade securities. Market makers keep offering prices to the market and generally refuse to sell orders to public traders at their quoted prices. Market makers as a securities brokerage business, hoarding a large number of securities waiting for others to buy is unlikely, and sometimes difficult to meet the needs of buyers. In response to these problems, the market makers should be allowed to have certain financing coupons. This, to some extent, increases the virtual demand and supply of the securities market, and naturally increases certain liquidity. Second, market makers can keep the bond market in the necessary position. Moderate speculation can be active in the city