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An ad exchange, in online advertising, is a technology platform that facilitates the buying and selling of media advertising inventory from multiple ad networks. Prices for the inventory are determined through real-time bidding (RTB). The technology-driven method replaces the custom of negotiating prices on media inventory, a field beyond ad networks as defined by the Interactive Advertising Bureau (IAB), and by advertising trade publications. Ad tech companies operate ad exchanges as online marketplaces that digitally connect demand-side (DSP) ad buyers to supply-side (SSP) publishers.
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