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Permutable has won AI Innovation of the Year: Europe at the Euromoney Markets Awards 2026, its second innovation prize this year.
The latest recognition follows its Technology Provider of the Year: Innovation award at the Hedgeweek European Awards 2026. The London company develops market intelligence tools for institutional investors, focusing on turning global news and other reporting into structured data for investment research.
Its technology is used across macroeconomics, commodities, currencies and geopolitics. It applies natural language processing and large language models to reporting from different sources, regions and languages, then organises that information into sentiment indicators and research signals for hedge funds, asset managers, investment banks and commodity trading teams.
The business positions that work around explainability and historical testing, two issues that remain central for investment teams assessing newer forms of AI-based data. Its point-in-time datasets are designed to preserve the information available on each observation date, so researchers can test signals against what was known at the time rather than information revealed later.
Wilson Chan, Founder and Chief Executive Officer at Permutable, linked the business to a question he encountered while working in derivatives.
"Working in derivatives, I kept coming back to the same question: how do you recognise a change in the market picture while the evidence is still scattered? A policy announcement, a disruption in a supply chain and a shift in local reporting might each tell you something. The harder task is understanding what they mean together. That question became the starting point for Permutable. Receiving our second innovation award this year is a proud moment for the team and recognition of the work involved in making that information useful to investment professionals," said Chan.
Research focus
The company's approach centres on measuring how market narratives change over time. Rather than treating all positive or negative reporting in the same way, the system groups information around assets, countries and economic themes so users can examine what is driving shifts in sentiment.
That can include testing whether inflation narratives contain useful signals for rates research, tracking changing supply and demand pressures in commodities, or comparing domestic reporting with international coverage of the same economy. Permutable also makes its products available through structured data feeds, application programming interfaces and research interfaces, allowing institutions to feed the data into existing dashboards and analytical models.
Michael Brisley, Chief Commercial Officer at Permutable, said commercial discussions focus on how investment teams assess whether a dataset is useful alongside their existing information sources.
"An investment team needs to understand what a dataset measures, how it was constructed and whether it contributes anything useful alongside the information they already use. Those are practical questions, and they shape how we develop and deliver our intelligence. For a systematic researcher, that might mean testing a historical signal against a defined hypothesis. For a discretionary portfolio manager, it might mean investigating whether the narrative behind a position is strengthening or weakening. The underlying intelligence needs to support both kinds of enquiry," Brisley said.
Chan said the company's internal work extends well beyond producing headline charts or indicators. He pointed to source checking, model behaviour, preservation of historical information and the examination of unexpected results as part of the process that determines whether a dataset can be properly assessed by a research team.
Chan said: "An interesting chart is a starting point. Researchers need to know what was available at the time, why a signal changed and whether the observation holds up across different periods. Much of our team's work happens out of sight: checking sources, questioning model behaviour, preserving historical information and investigating unexpected results. Those details determine whether someone can properly assess a dataset and decide where it belongs in their research."
Commercial approach
Permutable said its systems can also help researchers examine links between physical disruptions, commodity prices, economic expectations and policy responses. In commodities, users can study how market attention shifts between supply disruption, inventories, demand, policy and currency movements. In macroeconomic research, they can compare changes in country-level narratives and assess how policy expectations interact with other market drivers.
Brisley said the company starts evaluations with a defined investment question rather than the technology itself.
Brisley said: "The useful conversation starts with the investment question. Which market are you researching? What are you trying to measure? Over what horizon? That gives an evaluation a clear purpose and helps establish whether the data adds relevant information. The awards are welcome recognition. Our commercial focus remains on helping institutions reach an informed view of the technology through a well-defined evaluation."
Chan added that the company still has more work ahead as it develops its platform and broader market coverage.
Chan said: "A disruption at a port or an energy facility can have consequences well beyond the immediate asset. We want to help researchers follow those connections and investigate where the effects may surface next. There is plenty still to build and test. I'm grateful to our team, clients and partners for the scrutiny and ideas they bring to that work. Recognition from Euromoney and Hedgeweek gives us a moment to acknowledge that effort as we continue developing the platform."