Market Makers are a group of financial companies whose ultimate purpose is to stimulate the liquidity of the secondary market in Public Debt and co-operate with the General Secretariat of the Treasury and Financial Policy in the diffusion of Government Debt domestically and abroad.
There are currently two groups of Market Makers in Government Debt:
Market makers in Treasury Bills
Market makers in Government Bonds
The role of the market maker is regulated by:
The Order of the Ministry of Finance and Taxation dated 10 February 1999 (Official State Bulletin 13 February 1999), which regulates the role of the Market Maker in Public Debt in the kingdom of Spain.
The Resolution dated 20 July 2012 of the General Directorate of the Treasury (Official State Bulletin 26 July 2012), which establishes the role of the Market Maker in Public Debt in the kingdom of Spain and subsequent modifications in the Resolution dated 10 January 2013 of the General Directorate of the Treasury (Official State Bulletin 21 January 2013) and the Resolution dated 14 January 2014 of the General Directorate of the Treasury (Official State Bulletin 18 January 2014).