A capital market is for securities that includes both stocks and bonds. They have established insider trading laws and governed by companies such as FSA (UK) and the U.S. Securities and Exchange Commission (SEC).
"The operator of the capital market"
Anyone who works in the capital market and has been held by the laws it brings, can deliver the securities of a capital market operator. However, "the operator of the capital market," this sentence is only a recent invention and has minimal importance.
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