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:
- They charge each company to list their stock in their market.
- They charge for transaction that is taking place on their exchange server
- They may be offering other financial or other listing (or IPO) related services in a package deal with contracted third parties.
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.