In recent years, currency appreciation has become the focus of international economic affairs. China Foreign Exchange Trading Center launched 8 kinds of foreign exchange trading products in May 2005, and introduced the market maker system for foreign currency trading. The operation of financial market trading system will directly affect the function of market maker system, bidding trading mode and future development direction under the background of RMB appreciation. From the micro-financial point of view, this paper analyzes the formation mechanism of exchange rate and the problems existing in the foreign exchange market, demonstrates the positive significance of the market maker system in improving the RMB exchange rate mechanism and the development of China's foreign exchange market, and puts forward relevant policy suggestions.