§ 07 · SECTOR DEEP DIVE · 8 PLATFORMS
Banks & Financial Markets
The original lock-in machines. Decades of accumulated dependency.
8
Platforms
4.55
Mean B
4.66
Median B
8/8
Above B = 1
Key Structural Finding
Bloomberg Terminal is the deepest structural lock-in in our entire dataset outside TSMC and ASML. SWIFT (p=10) demonstrates that cooperative infrastructure can create even deeper lock-in than corporate platforms. JPMorgan and Goldman prove that decades-long banking relationships create switching costs that no fintech app can overcome through better UX alone.
Sector Rankings — Bloomberg (7.21) to Refinitiv (2.19)
| # | Platform | Ticker | Mkt Cap | Capture | Escape | B | Zone |
|---|---|---|---|---|---|---|---|
| 01 | Bloomberg Terminal | Private | Private ~$70B | 2.23 | 0.31 | 7.21 | BLACK HOLE |
| 02 | SWIFT | - | Cooperative | 1.81 | 0.27 | 6.78 | BLACK HOLE |
| 03 | JPMorgan Chase | JPM | $680B | 2.04 | 0.33 | 6.13 | BLACK HOLE |
| 04 | BlackRock | BLK | $145B | 1.77 | 0.34 | 5.21 | BLACK HOLE |
| 05 | Goldman Sachs | GS | $170B | 1.51 | 0.37 | 4.11 | BLACK HOLE |
| 06 | Interactive Brokers | IBKR | $75B | 1.20 | 0.48 | 2.49 | EVENT HORIZON |
| 07 | Charles Schwab | SCHW | $140B | 1.15 | 0.51 | 2.26 | EVENT HORIZON |
| 08 | Refinitiv/LSEG | LSEG.L | $65B (LSEG) | 1.02 | 0.46 | 2.19 | EVENT HORIZON |
B-Index Distribution
Mean Parameter Profile
Capture Escape Extended