VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Wednesday, December 31, 2025

Stock Comparison

MarketAxess Holdings Inc. vs Roper Technologies, Inc.

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

MarketAxess Holdings Inc.

MKTX · NASDAQ Global Select Market

Market cap (USD)$6.7B
SectorFinancials
CountryUS
Data as of2025-12-23
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 MarketAxess Holdings Inc.'s moat claims, evidence, and risks.

View MKTX analysis

Roper Technologies, Inc.

ROP · The Nasdaq Stock Market LLC

Market cap (USD)$48.5B
SectorTechnology
CountryUS
Data as of2025-12-30
Moat score
67/ 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 Roper Technologies, Inc.'s moat claims, evidence, and risks.

View ROP analysis

Comparison highlights

  • Moat score gap: MarketAxess Holdings Inc. leads (74 / 100 vs 67 / 100 for Roper Technologies, Inc.).
  • Segment focus: MarketAxess Holdings Inc. has 2 segments (87.1% in Trade Execution Solutions); Roper Technologies, Inc. has 3 segments (55% in Application Software).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs Strong.
  • Moat breadth: MarketAxess Holdings Inc. has 6 moat types across 3 domains; Roper Technologies, Inc. has 7 across 4.

Primary market context

MarketAxess Holdings Inc.

Trade Execution Solutions

Market

Electronic fixed-income trade execution platforms (credit and rates)

Geography

Global

Customer

Institutional investors, broker-dealers, and alternative liquidity providers

Role

Electronic trading venue / marketplace operator

Revenue share

87.1%

Roper Technologies, Inc.

Application Software

Market

Vertical application software for niche end markets

Geography

Global

Customer

Businesses, institutions, and public-sector organizations

Role

Software vendor (SaaS, subscriptions, and related services)

Revenue share

55%

Side-by-side metrics

MarketAxess Holdings Inc.
Roper Technologies, Inc.
Ticker / Exchange
MKTX - NASDAQ Global Select Market
ROP - The Nasdaq Stock Market LLC
Market cap (USD)
$6.7B
$48.5B
Sector
Financials
Technology
HQ country
US
US
Primary segment
Trade Execution Solutions
Application Software
Market structure
Oligopoly
Oligopoly
Market share
19% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Strong
Moat score
74 / 100
67 / 100
Moat domains
Network, Demand, Legal
Demand, Legal, Financial, Network
Last update
2025-12-23
2025-12-30

Moat coverage

Shared moat types

Two Sided NetworkData Workflow LockinData Network EffectsCompliance AdvantageSwitching Costs General

MarketAxess Holdings Inc. strengths

Ecosystem Complements

Roper Technologies, Inc. strengths

Negative Working CapitalDesign In Qualification

Segment mix

MarketAxess Holdings Inc. segments

Full profile >

Trade Execution Solutions

Oligopoly

87.1%

Services (Data, Post-Trade and Technology)

Competitive

12.9%

Roper Technologies, Inc. segments

Full profile >

Application Software

Oligopoly

55%

Network Software

Oligopoly

21%

Technology Enabled Products

Competitive

24.1%

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.