VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

MarketAxess Holdings Inc. vs Visa 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)$6.8B
Gross margin (TTM)72.2%
Operating margin (TTM)40.4%
Net margin (TTM)29.2%
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

Visa Inc.

V · New York Stock Exchange

Market cap (USD)$618.8B
Gross margin (TTM)81.1%
Operating margin (TTM)59.2%
Net margin (TTM)50.2%
SectorFinancials
IndustryFinancial - Credit Services
CountryUS
Data as of2025-12-21
Moat score
77/ 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 Visa Inc.'s moat claims, evidence, and risks.

View V analysis

Comparison highlights

  • Moat score gap: Visa Inc. leads (77 / 100 vs 74 / 100 for MarketAxess Holdings Inc.).
  • Segment focus: MarketAxess Holdings Inc. has 2 segments (87.1% in Trade Execution Solutions); Visa Inc. has 4 segments (35.9% in Data processing revenue).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs n/a.
  • Moat breadth: MarketAxess Holdings Inc. has 6 moat types across 3 domains; Visa 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%

Visa Inc.

Data processing revenue

Market

Payment transaction processing (authorization, clearing and settlement) for VisaNet and related network access

Geography

Global

Customer

Issuers, acquirers, payment processors

Role

Network processor / switch (authorization, clearing, settlement)

Revenue share

35.9%

Side-by-side metrics

MarketAxess Holdings Inc.
Visa Inc.
Ticker / Exchange
MKTX - NASDAQ Global Select Market
V - New York Stock Exchange
Market cap (USD)
$6.8B
$618.8B
Gross margin (TTM)
72.2%
81.1%
Operating margin (TTM)
40.4%
59.2%
Net margin (TTM)
29.2%
50.2%
Sector
Financials
Financials
Industry
Financial - Capital Markets
Financial - Credit Services
HQ country
US
US
Primary segment
Trade Execution Solutions
Data processing revenue
Market structure
Oligopoly
Oligopoly
Market share
19% (reported)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
n/a
Moat score
74 / 100
77 / 100
Moat domains
Network, Demand, Legal
Network, Demand, Supply, Legal
Last update
2025-12-23
2025-12-21

Moat coverage

Shared moat types

Two Sided NetworkData Workflow LockinCompliance Advantage

MarketAxess Holdings Inc. strengths

Data Network EffectsSwitching Costs GeneralEcosystem Complements

Visa Inc. strengths

Brand TrustClearing SettlementCapex Knowhow ScaleSuite Bundling

Segment mix

MarketAxess Holdings Inc. segments

Full profile >

Trade Execution Solutions

Oligopoly

87.1%

Services (Data, Post-Trade and Technology)

Competitive

12.9%

Visa Inc. segments

Full profile >

Service revenue

Oligopoly

31.5%

Data processing revenue

Oligopoly

35.9%

International transaction revenue

Oligopoly

25.4%

Other revenue

Competitive

7.3%

Want the full wide moat stocks list?

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Proven models entering the expansion stage with unit economics that work.

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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.