Details

About the Innovator

Peracton is an Irish SME, that was spun-off from the Digital Enterprise Research Institute (DERI) of the National University of Ireland, Galway. Funded in 2010 by Enterprise Ireland, Peracton's mission is to develop and exploit advanced enabling technologies to solve complex business analytics problems for investment and trading.

What is the innovation

Peracton developed a financial analytics platform called MAARS in order to support human traders compete on financial markets (in a world where more than 85% of stocks are transacted at high speed by computer algorithms). Within the H2020 SSIX project consortium, Peracton developed a social sentiment data source platform called SSIX. The SSIX data is then combined and processed within MAARS together with fundamental and technical financial data, creating a unique set of data that boosts the decision making power of MAARS. In order to prove its applicability to other domains (such as political campaigns) the SSIX platform was also tested on recent large scale voting events.

Read the detailed description of the platform: Sentiment Analysis: dealing with perception in finance – friend or foe?

Out of the lab – Into the Market

Peracton's commercialisation effort will be primarily focused on selling MAARS and SSIX bundled for financial markets, but also on SSIX as a stand-alone technology for new markets like political services (e.g. for monitoring national elections in large democratic countries. Partnership and licensing will be the favoured path, while direct sales within Peracton business network in EU and USA will also be pursued, targeting professional investors and hedge funds. Raising capital will be key to finance future commercialisation efforts. In 2016, Peracton has already received formal interest for the stand-alone SSIX technology from a large UK financial media player to test and pilot the SSIX platform.

Benefits of participation in the Framework Programme

Our participation to H2020 has greatly helped us in several ways: expansion of the company’s products portfolio with SSIX, opening up new potential markets (e.g. Politics), access to solid R&D know-how and finally finding new potential partners within the very members of the SSIX project consortium.