Utilize the input text as a context reference, choose the right relationship between 'Stock Market' and 'Stock Exchange' from the options.
Options: legal form, creator, operator, parent organization

A Bloomberg report on Wednesday said the investors believed the New York Stock Exchange ICE, +1.15% , Nasdaq Stock Market NDAQ, +3.24% and venues operated by Bats Global Markets Inc. had violated the law by enabling high-frequency firms to exploit ordinary investors trading on the exchanges in return for which the firms directed their “considerable” trading activity to them.
operator