VOL. XCIV, NO. 247

* MOAT STOCKS COMPARISON *

NO ADVICE

Friday, December 26, 2025

Stock Comparison

MarketAxess Holdings Inc. vs Teradyne, 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.

View full moat analysis >

Teradyne, Inc.

TER · Nasdaq Stock Market

Market cap (USD)$31B
SectorTechnology
CountryUS
Data as of2025-12-23
Moat score
79/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

View full moat analysis >

Side-by-side metrics

MarketAxess Holdings Inc.
Teradyne, Inc.
Ticker / Exchange
MKTX - NASDAQ Global Select Market
TER - Nasdaq Stock Market
Market cap (USD)
$6.7B
$31B
Sector
Financials
Technology
HQ country
US
US
Primary segment
Trade Execution Solutions
Semiconductor Test
Market structure
Oligopoly
Duopoly
Market share
19% (reported)
27%-30% (implied)
HHI estimate
n/a
3,565
Pricing power
Moderate
Moderate
Moat score
74 / 100
79 / 100
Moat domains
Network, Demand, Legal
Demand, Supply, Network
Last update
2025-12-23
2025-12-23

Moat coverage

Shared moat types

Switching Costs GeneralEcosystem Complements

MarketAxess Holdings Inc. strengths

Two Sided NetworkData Workflow LockinData Network EffectsCompliance Advantage

Teradyne, Inc. strengths

Format Lock InCapex Knowhow ScaleDesign In QualificationBrand Trust

Segment mix

MarketAxess Holdings Inc. segments

Full profile >

Trade Execution Solutions

Oligopoly

87.1%

Services (Data, Post-Trade and Technology)

Competitive

12.9%

Teradyne, Inc. segments

Full profile >

Semiconductor Test

Duopoly

77.9%

Product Test

Competitive

11.7%

Robotics

Competitive

10.4%

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 Pricing, features, and availability may be incomplete or out of date.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.