What: The world’s first guaranteed advertising contract exchange – NYIAX (New York Interactive Advertising Exchange) – was announced. It will operate on Nasdaq’s technology and leverage the Nasdaq Financial Framework architecture.NYIAX aims to transform ad inventory into standardized and durable securities. A blockchain-enabled media trading platform running in the cloud and powered by Nasdaq.
Why it matters: (Digital) advertising in mass media is becoming a commodity.. Trading of advertising through programmatic means and exchanges like NYIAX will become similar to trading of financial assets.
NYIAX (New York Interactive Advertising Exchange), the world’s first guaranteed advertising contract exchange, has been introduced. NYIAX 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 benefits media buyers by providing a transparent and trusted market to secure and re-trade premium future advertising inventory. Publishers benefit from the capabilities it provides to help them increase revenue by growing sell-through, retaining higher CPMs and reducing fees. For advertisers, the exchange delivers a new way of discovering and purchasing inventory. Through greater transparency and forecasting, advertisers are also able to secure the premium inventory they need in advance.
Chief Product & Technology Officer, Richard Bush, is currently overseeing the onboarding of a select group of premium companies on the NYIAX platform. Once the pilot program is complete in late 2017, NYIAX 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.
“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.”
“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 Nasdaq Matching Engine and other proven exchange data models and technologies provide the foundation on which Bush and his team created the NYIAX platform. NYIAX and Nasdaq also co-created the other modules necessary to specifically serve advertisers and publishers.
NYIAX’s leadership team of adtech and fintech pioneers includes:
- Carolina Abenante, Co-founder, President and Vice Chairperson of NYIAX, is an accomplished leader who has held key positions at Reed Elsevier (now RELX Group) and United Online, Inc.
- Graham Mosley, Co-founder and Chief Strategy Officer at NYIAX, was most recently the SVP of Business Development at Mojiva, Inc, which was acquired by PubMatic.
- Mark Grinbaum, Co-founder and EVP of Products and Platform at NYIAX, is a veteran of the technology industry having held positions at ISE Inc and Dow Jones.
- Lou Severine, Chief Executive Officer of NYIAX, has led advertising businesses for more than 20 years and most recently was the Chief Revenue Officer of Phluid Media, SVP of AOL Networks and Director of Business Development at Microsoft.
- Richard Bush, Chief Product and Technology Officer, served as former General Manager of Publisher Solutions at IPONWEB and served in a variety of key roles including Head of Product and Director Technology with Severine at AOL Networks.
- Will Schmahl, Chief Revenue Officer, has more than 14 years of experience in the digital advertising space. He spent the last nine years working as VP of Sales for AOL Platforms.
The world-class leadership team 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.
“The platform immediately delivers clients upfront media buying and re-sell capabilities. As a new secondary market, a new potential revenue stream is one of the main reasons we are seeing so much interest in our pilot program,” said Severine. “What NYIAX is doing will change everything. Once the rest of the market is exposed, advertising as we knew it for the past twenty years will be ancient history.”