VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

CME Group Inc. vs The Trade Desk, Inc.

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

CME Group Inc.

CME · NASDAQ

Market cap (USD)
SectorFinancials
CountryUS
Data as of2025-12-30
Moat score
81/ 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 CME Group Inc.'s moat claims, evidence, and risks.

View CME analysis

The Trade Desk, Inc.

TTD · NASDAQ

Market cap (USD)$18.5B
SectorCommunication Services
CountryUS
Data as of2025-12-26
Moat score
62/ 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 The Trade Desk, Inc.'s moat claims, evidence, and risks.

View TTD analysis

Comparison highlights

  • Moat score gap: CME Group Inc. leads (81 / 100 vs 62 / 100 for The Trade Desk, Inc.).
  • Segment focus: CME Group Inc. has 3 segments (81.4% in Trading and Clearing (Derivatives + Cash Markets Platforms)); The Trade Desk, Inc. has 1 segment (100% in Advertising Technology Platform (DSP)).
  • Primary market structure: Oligopoly vs Competitive. Pricing power: Moderate vs Moderate.
  • Moat breadth: CME Group Inc. has 10 moat types across 5 domains; The Trade Desk, Inc. has 4 across 2.

Primary market context

CME Group Inc.

Trading and Clearing (Derivatives + Cash Markets Platforms)

Market

Exchange-traded derivatives (futures and options) trading and central counterparty clearing; plus electronic cash markets matching (U.S. Treasuries/repo, spot FX) tied to CME platforms

Geography

Global (core U.S. footprint with international participation)

Customer

Institutional and professional traders; commercial hedgers; banks; broker-dealers; futures commission merchants (FCMs); asset managers; proprietary trading firms; governments and central banks

Role

Market operator (exchange/venue) + central counterparty clearing provider

Revenue share

81.4%

The Trade Desk, Inc.

Advertising Technology Platform (DSP)

Market

Demand-side platforms (DSP) for programmatic advertising (open internet)

Geography

Global

Customer

Advertising agencies and advertisers

Role

Buy-side platform / demand aggregation

Revenue share

100%

Side-by-side metrics

CME Group Inc.
The Trade Desk, Inc.
Ticker / Exchange
CME - NASDAQ
TTD - NASDAQ
Market cap (USD)
n/a
$18.5B
Sector
Financials
Communication Services
HQ country
US
US
Primary segment
Trading and Clearing (Derivatives + Cash Markets Platforms)
Advertising Technology Platform (DSP)
Market structure
Oligopoly
Competitive
Market share
n/a
6%-10% (implied)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
81 / 100
62 / 100
Moat domains
Network, Legal, Supply, Financial, Demand
Network, Demand
Last update
2025-12-30
2025-12-26

Moat coverage

Shared moat types

Switching Costs General

CME Group Inc. strengths

Two Sided NetworkClearing SettlementConcession LicenseScale Economies Unit CostBenchmark Pricing PowerIP Choke PointData Workflow LockinDe Facto StandardDistribution Control

The Trade Desk, Inc. strengths

Interoperability HubData Network EffectsStandards Registry

Segment mix

CME Group Inc. segments

Full profile >

Trading and Clearing (Derivatives + Cash Markets Platforms)

Oligopoly

81.4%

Market Data and Information Services

Monopoly

11.6%

Access, Connectivity and Other Exchange Services

Monopoly

7%

The Trade Desk, Inc. segments

Full profile >

Advertising Technology Platform (DSP)

Competitive

100%

Want the full wide moat stocks list?

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

View the moat stocks list

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.