WIDE MOAT STOCKS COMPARISON

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Stock Comparison

ASX Limited vs London Stock Exchange Group plc

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

ASX Limited

ASX · ASX

Market cap (USD)$8.3B
Gross margin (TTM)—
Operating margin (TTM)51.7%
Net margin (TTM)38.2%
SectorFinancials
IndustryExchanges and financial data
CountryAU
Data as of2026-08-23
83/100
Moat score

Weighted across the company's segments.

Full stock profile

Dive deeper into ASX Limited's moat claims, evidence, and risks.

View ASX analysis

London Stock Exchange Group plc

LSEG · London Stock Exchange

Market cap (USD)$51.7B
Gross margin (TTM)88.7%
Operating margin (TTM)25.8%
Net margin (TTM)14.6%
SectorFinancials
IndustryExchanges and financial data
CountryGB
Data as of2026-08-23
76/100
Moat score

Weighted across the company's segments.

Full stock profile

Dive deeper into London Stock Exchange Group plc's moat claims, evidence, and risks.

View LSEG analysis

Comparison highlights

  • Moat score gap: ASX Limited leads (83 / 100 vs 76 / 100 for London Stock Exchange Group plc).
  • Segment focus: ASX Limited has 4 segments (33% in Markets); London Stock Exchange Group plc has 4 segments (46.4% in Data & Analytics).
  • Primary market structure: Duopoly vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: ASX Limited has 4 moat types across 3 domains; London Stock Exchange Group plc has 4 across 2.

Primary market context

ASX Limited

Markets

Market

Trading venues for Australian cash equities and exchange-traded derivatives (futures, options)

Geography

Australia

Customer

Brokers/market participants, proprietary trading firms, institutional investors

Role

Market operator / trading venue

Revenue share

33%

London Stock Exchange Group plc

Data & Analytics

Market

Financial market data, analysis, desktop workflows and enterprise feeds

Geography

Global

Customer

Financial institutions and corporates

Role

Financial data and workflow provider

Revenue share

46.4%

Side-by-side metrics

ASX Limited
London Stock Exchange Group plc
Ticker / Exchange
ASX - ASX
LSEG - London Stock Exchange
Market cap (USD)
$8.3B
$51.7B
Gross margin (TTM)
n/a
88.7%
Operating margin (TTM)
51.7%
25.8%
Net margin (TTM)
38.2%
14.6%
Sector
Financials
Financials
Industry
Exchanges and financial data
Exchanges and financial data
HQ country
AU
GB
Primary segment
Markets
Data & Analytics
Market structure
Duopoly
Oligopoly
Market share
83.7% (reported)
n/a
HHI estimate
6,700
n/a
Pricing power
Moderate
Moderate
Moat score
83 / 100
76 / 100
Moat domains
Legal, Network, Demand
Demand, Network
Last update
2026-09-05
2026-09-05

Moat coverage

Shared moat types

Two Sided Network

ASX Limited strengths

Concession LicenseIP Choke PointSwitching Costs General

London Stock Exchange Group plc strengths

Data Workflow LockinDe Facto StandardClearing Settlement

Segment mix

ASX Limited segments

Full profile >

Listings

Quasi-Monopoly

17.2%

Markets

Duopoly

33%

Technology & Data

Competitive

23.7%

Securities & Payments

Monopoly

26.1%

London Stock Exchange Group plc segments

Full profile >

Data & Analytics

Oligopoly

46.4%

FTSE Russell

Oligopoly

10.4%

Risk Intelligence

Competitive

6.4%

Markets

Oligopoly

36.7%

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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.