WIDE MOAT STOCKS COMPARISON

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Stock Comparison

Cboe Global Markets, Inc. vs London Stock Exchange Group plc

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

Cboe Global Markets, Inc.

CBOE · Cboe BZX

Market cap (USD)$38.1B
Gross margin (TTM)—
Operating margin (TTM)36.4%
Net margin (TTM)28%
SectorFinancials
IndustryExchanges and financial data
CountryUS
Data as of2026-08-23
82/100
Moat score

Weighted across the company's segments.

Full stock profile

Dive deeper into Cboe Global Markets, Inc.'s moat claims, evidence, and risks.

View CBOE analysis

London Stock Exchange Group plc

LSEG · London Stock Exchange

Market cap (USD)$60.4B
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: Cboe Global Markets, Inc. leads (82 / 100 vs 76 / 100 for London Stock Exchange Group plc).
  • Segment focus: Cboe Global Markets, Inc. has 5 segments (63% in Options); London Stock Exchange Group plc has 4 segments (46.4% in Data & Analytics).
  • Moat breadth: Cboe Global Markets, Inc. has 5 moat types across 2 domains; London Stock Exchange Group plc has 4 across 2.

Primary market context

Cboe Global Markets, Inc.

Options

Market

U.S. listed options exchanges (multi-listed + proprietary index options)

Geography

United States

Customer

Broker-dealers, market makers, institutional investors, retail order-flow intermediaries

Role

Exchange operator (SRO) + derivatives listing venue + market data provider

Revenue share

63%

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

Cboe Global Markets, Inc.
London Stock Exchange Group plc
Ticker / Exchange
CBOE - Cboe BZX
LSEG - London Stock Exchange
Market cap (USD)
$38.1B
$60.4B
Gross margin (TTM)
n/a
88.7%
Operating margin (TTM)
36.4%
25.8%
Net margin (TTM)
28%
14.6%
Sector
Financials
Financials
Industry
Exchanges and financial data
Exchanges and financial data
HQ country
US
GB
Primary segment
Options
Data & Analytics
Market structure
Oligopoly
Oligopoly
Market share
30.5% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
82 / 100
76 / 100
Moat domains
Legal, Network
Demand, Network
Last update
2026-09-05
2026-09-05

Moat coverage

Shared moat types

Two Sided NetworkClearing SettlementDe Facto Standard

Cboe Global Markets, Inc. strengths

Contractual ExclusivityIP Choke Point

London Stock Exchange Group plc strengths

Data Workflow Lockin

Segment mix

Cboe Global Markets, Inc. segments

Full profile >

Options

Oligopoly

63%

North American Equities

Competitive

16.8%

Europe and Asia Pacific

Oligopoly

11.3%

Futures

Quasi-Monopoly

5.2%

Global FX

Competitive

3.8%

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.