VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

Stock Comparison

Euronext N.V. vs Intercontinental Exchange, Inc.

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

Euronext N.V.

ENX · Euronext Paris

Market cap (USD)$16.8B
Gross margin (TTM)88.8%
Operating margin (TTM)51.3%
Net margin (TTM)35.5%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryNL
Data as of2026-01-03
Moat score
74/ 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 Euronext N.V.'s moat claims, evidence, and risks.

View ENX analysis

Intercontinental Exchange, Inc.

ICE · New York Stock Exchange

Market cap (USD)$84.4B
Gross margin (TTM)69%
Operating margin (TTM)40.8%
Net margin (TTM)30%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryUS
Data as of2026-05-26
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 Intercontinental Exchange, Inc.'s moat claims, evidence, and risks.

View ICE analysis

Comparison highlights

  • Moat score gap: Intercontinental Exchange, Inc. leads (91 / 100 vs 74 / 100 for Euronext N.V.).
  • Segment focus: Euronext N.V. has 7 segments (34.4% in Trading); Intercontinental Exchange, Inc. has 4 segments (46.2% in Exchange transaction and clearing).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: Euronext N.V. has 7 moat types across 4 domains; Intercontinental Exchange, Inc. has 8 across 4.

Primary market context

Euronext N.V.

Trading

Market

Multi-asset exchange trading venues (cash equities, derivatives, fixed income, FX, power)

Geography

Europe (with global participants)

Customer

Broker-dealers, banks, proprietary trading firms, asset managers, and other market participants

Role

Trading venue operator

Revenue share

34.4%

Intercontinental Exchange, Inc.

Exchange transaction and clearing

Market

Global regulated derivatives, cash equities, equity options, OTC energy trading and clearing venues

Geography

Global, with major venues and clearing houses in the U.S., U.K., EU, Canada, Asia Pacific and the Middle East

Customer

Financial institutions, asset managers, market makers, hedgers, corporates, energy firms and brokers

Role

Regulated exchange operator, execution venue and central counterparty clearing infrastructure

Revenue share

46.2%

Side-by-side metrics

Euronext N.V.
Intercontinental Exchange, Inc.
Ticker / Exchange
ENX - Euronext Paris
ICE - New York Stock Exchange
Market cap (USD)
$16.8B
$84.4B
Gross margin (TTM)
88.8%
69%
Operating margin (TTM)
51.3%
40.8%
Net margin (TTM)
35.5%
30%
Sector
Financials
Financials
Industry
Financial - Data & Stock Exchanges
Financial - Data & Stock Exchanges
HQ country
NL
US
Primary segment
Trading
Exchange transaction and clearing
Market structure
Oligopoly
Oligopoly
Market share
64.8% (reported)
19.8%-20.1% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
74 / 100
91 / 100
Moat domains
Legal, Network, Supply, Demand
Network, Financial, Demand, Supply
Last update
2026-01-03
2026-05-26

Moat coverage

Shared moat types

Two Sided NetworkClearing SettlementData Workflow Lockin

Euronext N.V. strengths

Concession LicenseOperational ExcellenceIP Choke PointFormat Lock In

Intercontinental Exchange, Inc. strengths

Benchmark Pricing PowerBrand TrustScope EconomiesEcosystem ComplementsData Network Effects

Segment mix

Euronext N.V. segments

Full profile >

Listing

Oligopoly

14.3%

Trading

Oligopoly

34.4%

Advanced Data Services

Quasi-Monopoly

14.9%

Clearing

Oligopoly

12.4%

Custody & Settlement

Quasi-Monopoly

16.6%

Technology Solutions & Other

Competitive

6.5%

Investor Services

Competitive

0.9%

Intercontinental Exchange, Inc. segments

Full profile >

Exchange transaction and clearing

Oligopoly

46.2%

Exchange data, connectivity and listings

Oligopoly

13.6%

Fixed Income and Data Services

Oligopoly

22.1%

Mortgage Technology

Quasi-Monopoly

18.1%

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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.