The Exchange Lab adds extra automation
James Aitken, CEO of the programmatic marketplace, on how relaunching its proprietary trading platform, Proteus, will save time and provide better real-time optimization.
The Exchange Lab is relaunching its programmatic trading platform as Proteus, introducing new automation abilities that will give traders more time to optimize the budgets of online campaigns.
Proteus is built off of the company’s previous Datalab platform. New updates maintain Datalab’s emphasis on being able to access multiple DSPs and analytics through a single touchpoint, but adds a totally overhauled automation system – primarily relating to the execution process on things like uploading and tagging creative – that increases the time that can be spent optimizing campaigns.
“We’re saving traders 40% of the time they spend in Exchange Lab so they can now look at their market results,” James Aitken, co-founder and CEO of The Exchange Lab, tells MiC. “We wanted to rename it, because it’s something that’s going to be totally different from what we offered before.”
Using a custom API integration that allows for a better two-way data flow between Proteus and its integrated DSPs, traders use real-time information on the entire market to move budgets between DSPs based on where campaigns are performing best and how market prices are changing.
The company will officially reveal the relaunched platform at Advertising Week, which starts on Monday in New York.
Aitken says Proteus was modeled on trading platforms used in financial markets, like Bloomberg and FX, which reduce the time spent on tasks that can be automated so more time can be spent on deciding what kind of spending will result in the greatest return on an investment.
“Currency traders don’t call each and every bank to make their transactions, they are automated to go to each one. This will decrease the cost for our clients in terms of manpower, and hopefully increases their ability to optimize their ROIs.”
At launch, 12 DSPs – including Turn, MediaMath, TubeMogul, Yahoo Ad Exchange and DoubleClick – have been integrated into Proteus, with Aitken saying more are coming before the end of the year.
Last week, The Exchange Lab announced a handful of promotions out of its Toronto office that build on the company’s recent North American expansion.