Google has officially unveiled the new look DoubleClick ad exchange this morning, as it sets out to grab a bigger share of the $5 billion dollar non-premium display market. The exchange has been live for several months now to invite-only traders, but is now officially open with a couple of caveats.

Trading on the exchange will be by invitation only for agencies and ad networks, but these buyers can still bid on ad inventory using platforms like InviteMedia and MedMath.

All the expected features that had been rumoured to be in the new exchange are present: RTB (Real-Time Bidding) is a central feature; so too is the inclusion of AdSense sellers and AdWords buyers on the platform.

The big surprise about the new exchange is its openness. Google has decided in its wisdom not to discriminate against publishers or agencies not using DFP or DFA.

It is effectively technology neutral. The exchange is open to publishers using non-DFP ad servers – and those looking to trade can do so by putting their unsold inventory on the platform.

Let’s go through some of the key features of the new DoubleClick ad exchange, and see how the platform will benefit both the buyer and seller:

Increased number of traders on the exchange

The addition of AdSense sellers and AdWords buyers has guaranteed a good level of liquidity in the exchange. A bigger pool of buyers bidding on inventory will help publishers get a competitive price for unsold ad impressions. From a buy-side perspective, there will be a greater pool of sites available to access quality inventory.

Check out the DoubleClick exchange trader chart for more analysis on who’ll likely be the big inventory buyers and sellers on Adx 2.0.

Real-time bidding

Being able to bid on a single ad impression will be important to those buyers and sellers, looking for an increase in yield and campaign performance. A specific bid for a single impression can be processed within 200 milliseconds on the new exchange.

In the US real-time bidding is increasingly becoming an essential part of the exchange trade, but media buyers here in Europe are still a little behind the curve.

Nice feature – and doubtless one that will be used increasingly by European exchange traders as they get a feel for the new DoubleClick platform.

Publisher and advertiser control

The publisher can set a floor price for ad inventory they wish to trade on the exchange. Sales channel conflict remains a big issue for publishers – and with that in mind, the new exchange allows publishers to block specific advertisers, ad networks and formats

According to Google, advertisers on the new exchange can avail of controls such as frequency capping and ad delivery.

Easier reporting and measurability

Given Google’s track record on developing great analytical tools, it is no surprise that reporting is a key feature of the new exchange. Publisher’s can see how their site is performing through a new interface, allowing them to adjust their trading strategy.

Billing and payment

A major headache for a publisher in the present economy is getting paid on time. Working with multiple networks can often require extra resource to chase unpaid invoices.
Google makes all payments and chases bills from the networks on a publisher's behalf. They’re making it easier by issuing a payment to the publisher at the end of each month.

New API

As the number of agencies building their own buying platforms increases, having access to an API which allows them to them to integrate buying tools or technology is essential. The new DoubleClick trading platform API will enable ad networks and agencies to plug their current systems and technology into the exchange.

The re-launch of the DoubleClick has been eagerly anticipated for a number of months by European traders. Speaking to FarneyMedia, Martin Kelly, Managing Partner of Infectious Media, said he believed the new DoubleClick platform would introduce greater competition into the ad exchange market:

We're really excited about the launch of AdX 2.0. It will bring welcome competition to the European exchange market which to date has been dominated by Right Media. It's powered by the AdSense engine to determine page content and will given advertisers more granular targeting options than any other exchange, this is an exciting development and the most advanced of the major exchanges.

The sheer volume of quality inventory and buyers available on the DoubleClick exchange will attract more traders to the marketplace. It’s still too early to assess how the new features will address the concerns of prospective traders on the supply-side.

But issues like sales channel conflict and ad pricing are being tackled head-on by Google, as it looks to establish its exchange as a proper sales channel for publishers. The battle to control the non-premium display market starts today, and Google have put down an impressive marker.