A for-profit stock exchange is a securities marketplace that operates as a commercial business with the primary goal of generating profits for its owners or shareholders. Unlike traditional member-owned or nonprofit exchanges, a for-profit exchange is usually structured as a corporation and often listed on its own platform or another exchange.

These exchanges earn revenue from multiple sources. Common income streams include listing fees paid by companies, trading fees charged on each transaction, market data sales, technology services, and clearing or settlement services. Well-known examples include the New York Stock Exchange and Nasdaq, both of which operate under profit-driven models.

The shift toward for-profit structures became more common through a process called demutualisation. In this process, ownership moved from broker members to shareholders, allowing exchanges to raise capital, expand globally, and invest heavily in technology. This has improved trading speed, liquidity, and access for global investors.

However, the for-profit model also raises concerns. Critics argue that focusing on profits may create conflicts of interest, such as prioritising high trading volumes over market stability or fairness. For this reason, strong regulation remains essential to ensure transparency and investor protection.

Overall, a for-profit stock exchange functions much like any other competitive business. It balances shareholder returns with its responsibility to provide an efficient, fair, and orderly market for investors and listed companies.