【中文版】

做市商是指在证券市场上，由具备一定实力和信誉的证券经营法人作为特许交易商，不断地向公众投资者报出某些特定证券的买卖价格，双向报价并在该价位上接受公众投资者的买卖要求，以其自有资金和证券与投资者进行证券交易。

简单来说，做市商就是以自有资金和证券在证券市场为某支证券提供双边报价，并在这个价格上接受投资者的买卖要求，以此活跃市场并保持市场的流动性。

做市商制度是现代成熟证券市场的重要交易制度之一，由于它具有提高市场流动性、稳定市场价格、增强市场吸引力和提高市场竞争力等优点，越来越多的证券市场开始采用做市商制度。

然而，做市商制度也存在一些问题，例如对做市商的资本实力、经营能力和风险控制能力要求较高，容易导致市场价格波动等。因此，在采用做市商制度时需要谨慎考虑其优缺点和适用性。

总的来说，做市商是指在证券市场上为某支证券提供双边报价并以此活跃市场、增强市场吸引力和提高市场竞争力的特许交易商。

【英文版】

Market makers refer to the securities trading institutions with certain strength and reputation as licensed traders, continuously providing public investors with buying and selling prices for specific securities, and accepting the investors' buying and selling requests at this price with their own funds and securities, so as to activate the market and maintain market liquidity.

In short, market makers are licensed traders who use their own funds and securities to provide two-sided quotes in the securities market for a certain security, and accept investors' buying and selling requests at this price, thereby activating the market and maintaining market liquidity.

The market making system is one of the important trading systems in modern mature securities markets. Due to its advantages of improving market liquidity, stabilizing market prices, enhancing market attractiveness, and improving market competitiveness, more and more securities markets are adopting the market making system.

However, there are also some problems with the market making system, such as high requirements for market makers' capital strength, management ability, and risk control ability, which can easily lead to market price fluctuations. Therefore, when adopting the market making system, it needs to carefully consider its advantages and disadvantages as well as its applicability.

In general, market makers refer to licensed traders who provide two-sided quotes for specific securities in the securities market to activate the market, enhance market attractiveness, and improve market competitiveness.