ad exchange is a sales channel / technology / platform where advertisers and publishers meet. The purchase of AD INVENTORY takes place through automatic pricing in the auction model (see FIRST PRICE AUCTION and SECOND PRICE AUCTION), in REAL TIME. The functions of the ad exchange are similar to ADVERTISING NETWORKS. It is a technology between the DEMAND SIDE PLATFORMS (DSP) and the SUPPLY/SELL SIDE PLATFORMS (SSP). Its functions are often combined with the latter.

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