Utilize the input text as a context reference, choose the right relationship between PayPal and Nasdaq from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

At the closing bell on the Nasdaq exchange, PayPal was up 5.42 percent at $40.47, equating to a market capitalization of more than $49 billion.

Answer: stock_exchange