VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Monday, January 5, 2026

Stock Comparison

Hong Kong Exchanges and Clearing Limited vs Broadridge Financial Solutions, Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Hong Kong Exchanges and Clearing Limited

0388.HK · Hong Kong Stock Exchange (HKEX)

Market cap (USD)$67.7B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorFinancials
Industry
CountryHK
Data as of2026-01-03
Moat score
92/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Hong Kong Exchanges and Clearing Limited's moat claims, evidence, and risks.

View 0388.HK analysis

Broadridge Financial Solutions, Inc.

BR · New York Stock Exchange

Market cap (USD)$25.9B
Gross margin (TTM)31.3%
Operating margin (TTM)17.6%
Net margin (TTM)13.1%
SectorTechnology
IndustrySoftware - Services
CountryUS
Data as of2025-12-26
Moat score
91/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Broadridge Financial Solutions, Inc.'s moat claims, evidence, and risks.

View BR analysis

Comparison highlights

  • Moat score gap: Hong Kong Exchanges and Clearing Limited leads (92 / 100 vs 91 / 100 for Broadridge Financial Solutions, Inc.).
  • Segment focus: Hong Kong Exchanges and Clearing Limited has 4 segments (52.6% in Cash Markets); Broadridge Financial Solutions, Inc. has 2 segments (74.2% in Investor Communication Solutions).
  • Primary market structure: Monopoly vs Quasi-Monopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Hong Kong Exchanges and Clearing Limited has 9 moat types across 5 domains; Broadridge Financial Solutions, Inc. has 5 across 4.

Primary market context

Hong Kong Exchanges and Clearing Limited

Cash Markets

Market

Exchange-based cash equities trading, clearing and settlement in Hong Kong (including Stock Connect cash markets)

Geography

Hong Kong (with Mainland China Connect linkage)

Customer

Brokers, banks, proprietary trading firms, and investors; listed issuers via primary/secondary markets

Role

Exchange operator + clearing/settlement/depository operator

Revenue share

52.6%

Broadridge Financial Solutions, Inc.

Investor Communication Solutions

Market

Proxy distribution, vote processing, and regulatory investor communications

Geography

Primarily United States (with select international services)

Customer

Public companies, mutual funds, banks and broker-dealers, asset managers

Role

Outsourced intermediary for shareholder communications and proxy voting workflows

Revenue share

74.2%

Side-by-side metrics

Hong Kong Exchanges and Clearing Limited
Broadridge Financial Solutions, Inc.
Ticker / Exchange
0388.HK - Hong Kong Stock Exchange (HKEX)
BR - New York Stock Exchange
Market cap (USD)
$67.7B
$25.9B
Gross margin (TTM)
n/a
31.3%
Operating margin (TTM)
n/a
17.6%
Net margin (TTM)
n/a
13.1%
Sector
Financials
Technology
Industry
n/a
Software - Services
HQ country
HK
US
Primary segment
Cash Markets
Investor Communication Solutions
Market structure
Monopoly
Quasi-Monopoly
Market share
100% (reported)
85%-95% (estimated)
HHI estimate
10,000
8,200
Pricing power
Moderate
Moderate
Moat score
92 / 100
91 / 100
Moat domains
Legal, Network, Financial, Supply, Demand
Legal, Supply, Network, Demand
Last update
2026-01-03
2025-12-26

Moat coverage

Shared moat types

Interoperability HubTwo Sided NetworkSwitching Costs General

Hong Kong Exchanges and Clearing Limited strengths

Concession LicenseClearing SettlementDirect Network EffectsBenchmark Pricing PowerPhysical Network DensityDistribution Control

Broadridge Financial Solutions, Inc. strengths

Regulated Standards PipeScale Economies Unit Cost

Segment mix

Hong Kong Exchanges and Clearing Limited segments

Full profile >

Cash Markets

Monopoly

52.6%

Equity and Financial Derivatives

Monopoly

20.3%

Commodities (LME and related)

Oligopoly

14.8%

Data and Connectivity

Quasi-Monopoly

12.2%

Broadridge Financial Solutions, Inc. segments

Full profile >

Investor Communication Solutions

Quasi-Monopoly

74.2%

Global Technology and Operations

Oligopoly

25.8%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.