If NASDAQ is a corporation, does it make profits by charging fees on transactions? When I pay a fee for buying stocks, am I paying the broker or NASDAQ?
It is a corporation, and is listed on the NASDAQ as NDAQ.
It makes money by:
NASDAQ also charges for market data services, found in the NASDAQ "Datastore".
Other information about the fees charged by NYSE and NASDAQ may be found in the Investopedia article The NYSE And Nasdaq: How They Work.