The particular rules and parties involved in a Private Marketplace set-up between a Publisher and a DSP, Agency, Agency Trading Desk, or other RTB Buyer is represented by a “Deal ID.” The “Deal” making up the Private Marketplace can be based on a subset of publisher’s inventory or all of it depending on the structure of the Private Marketplace. The deal underlying the Private Marketplace will have certain attributes like floor price, auction type and so on. The request parameter “bidCurrency” indicates the currency of the deal’s floor price.
More than one Deal ID may be applicable for a given ad impression, depending on how many Private Marketplaces a publisher wishes to support for the inventory represented by that impression. Hence an array of objects called “deals” will be passed to the Demand Partner in the bid request. Each object in an array is a separate Deal ID representing a Private Marketplace.
Demand Partner can choose to send an open bid, even if the RTB request contains an array of deals. The open bids are accepted on the system, however are subject to the publisher constraints set within the system.
- If the demand partner bids for a deal with a bid value (say $3) less than the floor value (say $4) of that deal, then PubMatic rejects such a bid.
- For a first price deal, if the bid value (say $5) is more than the floor value (say $4), then PubMatic uses the bid value as the winning price.
- For a second price deal, if the bid value (say $6) is more than the floor value (say $4) and the second highest bid value (say $3) is less than the floor value, then PubMatic uses the floor value as the winning price. However, if the second highest bid value (say $5) is more than the floor value, then PubMatic uses the second highest bid value as the winning price.