Lou Severine, NYIAX
New York - The first guaranteed advertising contract exchange - NYIAX (New York Interactive Advertising Exchange) has been announced. The new exchange will operate on Nasdaq's technology and leverage the Nasdaq Financial Framework architecture. NYIAX will be the first exchange to be deployed in the cloud and also run on blockchain technology.
"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 command. Once the exchange achieves critical mass within digital, we will begin supporting TV, print, radio and out-of-home markets."
Once the pilot program is complete in late 2017, NYIAX said it will incorporate trading use cases, benefits and details into the training it rolls out to ensure all clients have the tools and tips needed for proficient platform use.
Chief Product & Technology Officer, Richard Bush said: "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."