VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Stock Comparison

Cboe Global Markets, Inc. vs Wise 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)$31.4B
Gross margin (TTM)50.9%
Operating margin (TTM)31.7%
Net margin (TTM)23.3%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2025-12-31
Moat score
76/ 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 Cboe Global Markets, Inc.'s moat claims, evidence, and risks.

View CBOE analysis

Wise plc

WISE · London Stock Exchange

Market cap (USD)$14.1B
Gross margin (TTM)56%
Operating margin (TTM)32.2%
Net margin (TTM)23.5%
SectorFinancials
IndustryInformation Technology Services
CountryGB
Data as of2026-04-24
Moat score
57/ 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 Wise plc's moat claims, evidence, and risks.

View WISE analysis

Comparison highlights

  • Moat score gap: Cboe Global Markets, Inc. leads (76 / 100 vs 57 / 100 for Wise plc).
  • Segment focus: Cboe Global Markets, Inc. has 5 segments (60.8% in Options); Wise plc has 2 segments (74.7% in Personal international account and cross-border transfers).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Weak.
  • Moat breadth: Cboe Global Markets, Inc. has 8 moat types across 4 domains; Wise plc has 6 across 5.

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

60.8%

Wise plc

Personal international account and cross-border transfers

Market

Personal cross-border money movement, international account, card and multi-currency balance services

Geography

Global, across more than 160 countries and 40 currencies

Customer

Consumers, expatriates, travellers, migrants, freelancers and internationally active individuals

Role

Digital cross-border transfer, account, card, FX conversion and balance-management provider

Revenue share

74.7%

Side-by-side metrics

Cboe Global Markets, Inc.
Wise plc
Ticker / Exchange
CBOE - Cboe BZX
WISE - London Stock Exchange
Market cap (USD)
$31.4B
$14.1B
Gross margin (TTM)
50.9%
56%
Operating margin (TTM)
31.7%
32.2%
Net margin (TTM)
23.3%
23.5%
Sector
Financials
Financials
Industry
Financial - Data & Stock Exchanges
Information Technology Services
HQ country
US
GB
Primary segment
Options
Personal international account and cross-border transfers
Market structure
Oligopoly
Competitive
Market share
29%-32% (reported)
4.5%-5.5% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Weak
Moat score
76 / 100
57 / 100
Moat domains
Legal, Network, Supply, Demand
Supply, Demand, Financial, Network, Legal
Last update
2025-12-31
2026-04-24

Moat coverage

Shared moat types

No overlap yet.

Cboe Global Markets, Inc. strengths

Contractual ExclusivityTwo Sided NetworkCapex Knowhow ScaleRegulated Standards PipeSwitching Costs GeneralClearing SettlementIP Choke PointDe Facto Standard

Wise plc strengths

Scale Economies Unit CostBrand TrustFloat PrepaymentInteroperability HubData Workflow LockinCompliance Advantage

Segment mix

Cboe Global Markets, Inc. segments

Full profile >

Options

Oligopoly

60.8%

North American Equities

Competitive

18.5%

Europe and Asia Pacific

Oligopoly

10.6%

Futures

Quasi-Monopoly

6.3%

Global FX

Competitive

3.7%

Wise plc segments

Full profile >

Personal international account and cross-border transfers

Competitive

74.7%

Wise Business and Wise Platform

Competitive

25.3%

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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.