Market makers refer to financial institutions that constantly buy and sell specific financial products (such as stocks, bonds, futures, etc.). ) Provide liquidity to customers and offer trading quotations in the financial market. The main responsibility of market makers is to maintain the stable and orderly operation of the market and obtain profits through bid-ask spread (bid-ask spread).

The role and function of market makers are mainly reflected in the following aspects:

1. Providing liquidity: Market makers constantly buy and sell financial products in the market, which helps to increase market liquidity and enable investors to buy and sell assets quickly within a reasonable price range.

2. Maintain market stability: Market makers profit from the bid-ask spread, so they have the motivation to stabilize the market. When the market price fluctuates greatly, market makers will stabilize the price fluctuation through buying and selling operations, thus reducing the market risk.

3. Improve market transparency: Market makers need to continuously provide quotations for buying and selling, which will help improve market transparency and enable investors to know information such as market price and trading volume.

4. Promote market fairness: Market makers provide trading quotations in the market, which helps to narrow the information asymmetry between different investors, thus promoting fair competition in the market.

In a word, market makers play an important role in the financial market, and their activities help to maintain market stability, improve market transparency and promote market fairness.