There are two well-defined “sides” in programmatic advertising, one of them is the buyer or advertiser and the other is the publisher. On the advertiser’s side, the DSP (Demand Side Platform) is used, this is where the advertiser will define the KPIs of its campaign and the digital media wherever it is displayed (Mobile, desktop, DOOH, etc).
On the publisher side is the SSP (Supply/sell side platform), it is where the media owner dumps all his inventory to be offered.
The AdExchange is where supply and demand meet, optimizing the best inventory to display the campaign according to the KPIs defined by the advertiser and the information from each medium.