An ad exchange is a dynamic technological platform that facilitates the buying and selling process of available impressions between advertisers, who place their bids via DSPs, and publishers, who sell their inventory via supply-side platforms (SSPs) or directly with the ad exchange.
Ad exchanges are often compared to stock exchanges, as the buying and selling process of media is akin to the process of buying and selling stocks via a stock exchange.
The whole process is conducted via real-time bidding (RTB).
