Today, Nasdaq is announcing the launch of the world’s first guaranteed advertising contract exchange. Named NYIAX (New York Interactive Advertising Exchange), the exchange is the first one to be deployed in the cloud and running on blockchain technology. NYIAX will operate on Nasdaq’s reputed technology and leverage the Nasdaq Financial Framework architecture.
“NYIAX is a trading platform that brings Wall Street to Madison Avenue through a Nasdaq-powered, seamless global exchange that allows publishers and advertisers to buy, sell and re-trade premium advertising inventory as guaranteed contracts,” said NYIAX CEO Lou Severine.
“By enabling guaranteed digital media contract trading with efficiency, transparency and ease and providing the proprietary matching engine and trading tools trades require, NYIAX helps advertisers and publishers dominate the $72 billion US digital advertising landscape they command1. Once the exchange achieves critical mass within digital, we will begin supporting TV, print, radio and out-of-home markets.”
Richard Bush, Chief Product & Technology Officer, talks about current onboarding of a select group of premium companies on the NYIAX platform. The completion of pilot program is scheduled for the end of 2017. NYIAX will provide training plan with trading use cases, benefits and details to make sure that all customers have the tools and tips needed for proficient platform use.
“Trading, a vital part of other market sectors, has now come to media. With the ability to trade guaranteed media contracts, advertisers and publishers can now be efficient and rid themselves of unnecessary costs and risks,” said Bush.
The NYIAX platform was created on the basis of the Nasdaq Matching Engine and other proven exchange data models and technologies. Offering both a common taxonomy and standard interface, it fuels market growth and reduces fragmentation. NYIAX and Nasdaq have also created modules to meet the needs of advertisers and publishers.
“We are proud to support NYIAX on its groundbreaking new venture, and making it possible for the company to build a strong and efficient exchange that’s a unique development in the adtech space,” said Lars Ottersgård, Executive Vice President and Head of Market Technology, Nasdaq. “As a global leader for exchange technology, we can adapt our platform to accommodate a wide variety of market rules, asset classes and new technology innovations. NYIAX is leveraging our Nasdaq Financial Framework architecture, which draws on cutting-edge technology, including the integration of blockchain technology as our core ledger, as well as cloud-enabled trading and clearing capabilities.”
NYIAX team doesn’t only consist of prominent adtech and fintech pioneers, it is also supported by a group of financial services, technology and media veterans including Thomas O’Neill, Chairman of NYIAX and former Nasdaq board member, and Mediaocean CEO and Founder, and Board Member of NYIAX, Bill Wise.
NYIAX creators believe that their platform will be able to change the advertising sphere as we knew it for the past twenty years.