VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

London Stock Exchange Group plc vs Tradeweb Markets Inc.

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

London Stock Exchange Group plc

LSEG · London Stock Exchange

Market cap (USD)$46.2B
Gross margin (TTM)51.5%
Operating margin (TTM)19.6%
Net margin (TTM)9.4%
SectorFinancials
IndustryFinancial - Data & Stock Exchanges
CountryGB
Data as of2025-12-30
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 London Stock Exchange Group plc's moat claims, evidence, and risks.

View LSEG analysis

Tradeweb Markets Inc.

TW · Nasdaq Global Select Market

Market cap (USD)$23.6B
Gross margin (TTM)66.7%
Operating margin (TTM)40.3%
Net margin (TTM)31.6%
SectorFinancials
IndustryFinancial - Capital Markets
CountryUS
Data as of2026-01-06
Moat score
70/ 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 Tradeweb Markets Inc.'s moat claims, evidence, and risks.

View TW analysis

Comparison highlights

  • Moat score gap: London Stock Exchange Group plc leads (74 / 100 vs 70 / 100 for Tradeweb Markets Inc.).
  • Segment focus: London Stock Exchange Group plc has 5 segments (51% in Data & Analytics); Tradeweb Markets Inc. has 6 segments (52.4% in Rates).
  • Moat breadth: London Stock Exchange Group plc has 8 moat types across 4 domains; Tradeweb Markets Inc. has 7 across 4.

Primary market context

London Stock Exchange Group plc

Data & Analytics

Market

Financial market data, analytics and workflows (terminals and enterprise feeds)

Geography

Global

Customer

Financial institutions and corporates

Role

Data & analytics vendor

Revenue share

51%

Tradeweb Markets Inc.

Rates

Market

Electronic dealer-to-client and all-to-all trading in rates (government bonds, mortgages/TBA MBS, interest rate swaps)

Geography

Global

Customer

Institutional, wholesale dealers, and retail via ATS

Role

Electronic marketplace / trading venue

Revenue share

52.4%

Side-by-side metrics

London Stock Exchange Group plc
Tradeweb Markets Inc.
Ticker / Exchange
LSEG - London Stock Exchange
TW - Nasdaq Global Select Market
Market cap (USD)
$46.2B
$23.6B
Gross margin (TTM)
51.5%
66.7%
Operating margin (TTM)
19.6%
40.3%
Net margin (TTM)
9.4%
31.6%
Sector
Financials
Financials
Industry
Financial - Data & Stock Exchanges
Financial - Capital Markets
HQ country
GB
US
Primary segment
Data & Analytics
Rates
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
70 / 100
Moat domains
Demand, Supply, Network, Legal
Network, Demand, Legal, Supply
Last update
2025-12-30
2026-01-06

Moat coverage

Shared moat types

Data Workflow LockinBrand TrustCompliance AdvantageTwo Sided Network

London Stock Exchange Group plc strengths

Scale Economies Unit CostDe Facto StandardClearing SettlementConcession License

Tradeweb Markets Inc. strengths

Ecosystem ComplementsLong Term ContractsScope Economies

Segment mix

London Stock Exchange Group plc segments

Full profile >

Data & Analytics

Oligopoly

51%

FTSE Russell

Oligopoly

10.7%

Risk Intelligence

Oligopoly

6.2%

Capital Markets

Oligopoly

21.3%

Post Trade

Quasi-Monopoly

10.8%

Tradeweb Markets Inc. segments

Full profile >

Rates

Oligopoly

52.4%

Credit

Oligopoly

26.6%

Equities

Competitive

6%

Money Markets

Oligopoly

6.7%

Market Data

Competitive

6.8%

Other

Competitive

1.4%

Want the full wide moat stocks list?

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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.