VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Sunday, January 11, 2026

Stock Comparison

MarketAxess Holdings Inc. vs SS&C Technologies Holdings, 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)$6.3B
Gross margin (TTM)66.2%
Operating margin (TTM)41.2%
Net margin (TTM)26.2%
SectorFinancials
IndustryFinancial - Capital Markets
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

SS&C Technologies Holdings, Inc.

SSNC · NASDAQ

Market cap (USD)$21.2B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorTechnology
Industry
CountryUS
Data as of2026-01-11
Moat score
68/ 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 SS&C Technologies Holdings, Inc.'s moat claims, evidence, and risks.

View SSNC analysis

Comparison highlights

  • Moat score gap: MarketAxess Holdings Inc. leads (74 / 100 vs 68 / 100 for SS&C Technologies Holdings, Inc.).
  • Segment focus: MarketAxess Holdings Inc. has 2 segments (87.1% in Trade Execution Solutions); SS&C Technologies Holdings, Inc. has 3 segments (82.3% in Software-enabled services).
  • Moat breadth: MarketAxess Holdings Inc. has 6 moat types across 3 domains; SS&C Technologies Holdings, 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%

SS&C Technologies Holdings, Inc.

Software-enabled services

Market

Software-enabled outsourcing and subscription services for financial services and healthcare (fund administration, transfer agency, middle/back office BPO, managed IT)

Geography

Global

Customer

Financial services firms (asset/wealth managers, alternative managers, banks, insurers) and healthcare payers/administrators

Role

Service provider / outsourcer (SaaS + BPO)

Revenue share

82.3%

Side-by-side metrics

MarketAxess Holdings Inc.
SS&C Technologies Holdings, Inc.
Ticker / Exchange
MKTX - NASDAQ Global Select Market
SSNC - NASDAQ
Market cap (USD)
$6.3B
$21.2B
Gross margin (TTM)
66.2%
n/a
Operating margin (TTM)
41.2%
n/a
Net margin (TTM)
26.2%
n/a
Sector
Financials
Technology
Industry
Financial - Capital Markets
n/a
HQ country
US
US
Primary segment
Trade Execution Solutions
Software-enabled services
Market structure
Oligopoly
Oligopoly
Market share
19% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
74 / 100
68 / 100
Moat domains
Network, Demand, Legal
Demand, Supply, Legal, Network
Last update
2025-12-23
2026-01-11

Moat coverage

Shared moat types

Two Sided NetworkData Workflow LockinCompliance Advantage

MarketAxess Holdings Inc. strengths

Data Network EffectsSwitching Costs GeneralEcosystem Complements

SS&C Technologies Holdings, Inc. strengths

Scale Economies Unit CostSuite BundlingLong Term ContractsInteroperability Hub

Segment mix

MarketAxess Holdings Inc. segments

Full profile >

Trade Execution Solutions

Oligopoly

87.1%

Services (Data, Post-Trade and Technology)

Competitive

12.9%

SS&C Technologies Holdings, Inc. segments

Full profile >

Software-enabled services

Oligopoly

82.3%

License, maintenance and related

Oligopoly

17.7%

Funds network connectivity (Calastone)

Oligopoly

n/a

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.