SpringServe has released Multi-Currency Support as a premium feature. With this feature, clients now have the ability to set Rates, Floors, Revenue Budgets and Fees on applicable supply and demand objects in currencies other than USD. At this point, despite the fact that clients can set these fields in native currencies, all reporting will be displayed in USD and invoicing will be processed in USD.
As part of the MVP rollout of this feature, SpringServe will be supporting:
United States Dollar (symbol: $; code: ISO USD)
Euro (symbol: €; ISO code: EUR)
Pound Sterling (symbol: £; ISO code: GBP)
If this premium feature is not enabled for an account, then the default currency will be the USD and users will not have an option to set other currencies on their Supply and demand objects for this account.
Multi-Currency Support is available on both Managed and DC Supply Tags. Once this feature has been enabled for your account by your Account Manager, you will find a Single-Select drop-down with three options on your supply tags; EUR, GBP, and USD.
The fields you can set on your supply tags in native currencies are:
CPM Rate
This is the only place on a supply tag where you can set the Currency. The default selection for the currency on this drop-down is inherited from the account default when this premium feature is enabled by your account manager.
RPM Floor Rate
PC OM Floor if the “Apply to PC OM” box is unchecked.
Both the RPM Floor and PC OM Floor inherit the currency from the supply tag rate.
Users will not be able to save a supply tag with different currencies on these three fields. All these three will always have the same currency value. Note that once the supply tag has been successfully created and saved, the currency on any of these three fields can’t be changed. The numeric value on any of these three fields can be changed once the supply tag has been created.
If PC - Open Market Demand has been enabled on this supply tag, then when you expand the Open Market Modal in your waterfall, users will have the option to set bidder specific floors. Note that all the bidder specific bid floors will be set in the currency inherited from the CPM Rate of the Supply Tag.
This functionality works the same way for DC Supply Tags as described above. The main functional difference is that in the case of Connected Supply Tags, the numeric value and the currency set on the Connected Supply Tags is inherited by the associated Connected Demand Tag.
For example, if you create a Connected Supply Tag with a CPM Rate of 2.00 EUR, the RPM Rate on the associated Connected Demand Tag will also be 2.00 EUR
Once this feature has been enabled for your account by your Account Manager, you will find a Single-Select drop-down with three options on your Managed Demand Tags; EUR, GBP, and USD.
The field you can set on your managed demand tags in native currencies is:
Rate
When The Demand Class is a “Tag” or “Asset”, users have the option to set the Rate on the Demand Tag in any of the three currencies. The default selection for the currency on this drop-down is inherited from the account default when this premium feature is enabled by your account manager.
Floor Rate
When the Demand Class is “HB”, and the Floor Type is “Static”, users have the option to set the Rate on the Demand Tag in any of the three currencies. The default selection for the currency on this drop-down is inherited from the account default when this premium feature is enabled by your account manager.
Note that once the demand tag has been successfully created and saved, the currency on these three fields can’t be changed. The numeric value on any of these fields can be changed once the demand tag has been created.
If your demand tag belongs to a campaign, then the rate and the currency on the tag are greyed out and both these fields are inherited from those on the Managed Campaign.
Once this feature has been enabled for your account by your Account Manager, you will find a Single-Select drop-down with three options on your Managed Campaigns; EUR, GBP, and USD.
For managed campaigns, you have the option to set a rate. When you set a rate on a campaign, this rate can be set in any of the three currencies and will be applied to all associated demand tags. Note that once the campaign has been successfully created and saved, the currency on the rate can’t be changed. The numeric value on any of the rate can be changed once the demand tag has been created.
If your managed campaign has no rate, the campaign acts as a targeting and budgeting profile, and there is no impact to the rate of any of the associated demand. DC campaigns have no rate by default.
You can set a Fee based on Ad Requests, Impressions, Ad Requests – Impressions, or a Percentage of Revenue. For all these options except Percentage of revenue, users can now set these in native currencies. The screenshot below shows the currency drop-down for a Demand Partner but note that this works the same way for both DC & Managed Campaigns.
Note that the currency on Fees on these objects can be changed at any time.
To set up a new revenue budget, navigate to the Targeting tab of Demand Tags, Demand Partners, and Campaigns and select the Budgeting dropdown. Click the "+New Budget" button and a Budget container will appear where you can set your budget, pacing, and type. Additional budgets for different periods can be set by clicking the "+New Budget" button. Note the following things about currencies on budgets:
You can set multiple revenue budgets on the same object in different currencies.
The currency of the revenue budget and the currency on the rate of a campaign or a demand tag can be different.
If a revenue budget is applied to a Campaign, this is not inherited by all the demand tags associated with this campaign.
Once the demand object has been saved successfully, the currency on the budgets can’t be changed.
When the Floor Type on a SpotX Connect Integration is either “Static” or “Flat”, you can set the Floor Rate in any of the three available currencies.
Note that once this object has been successfully created and saved, the currency on the floor rate can’t be changed.
Additional Documentation on SpotX Connect can be found here: https://springserve.atlassian.net/wiki/spaces/SSD/pages/2452226039/SpotX+Connect?src=search
Despite the fact that clients can set rate, floors, fees and revenue budgets in native currencies, every auction in the AdServer is conducted in USD.
The process for the exchange rate refresh has been highlighted below:
The AdServer refreshes the exchange rates for all supported native currencies from https://currencylayer.com/ each day at Midnight UTC.
These rates are then used once we have them available and until such time as we do the next refresh in 24 hours.
Also, note that the AdServer does not round off the exchange rates either higher or lower in any way.
To illustrate, the exchange rate from GBP to USD on 5/31/2021 was 1.4196
In the AdServer, we will use 1.4196 as the exchange rate and not round it off to 1.42
We use the actual exchange rate we get from the Exchange Rate Source.
To illustrate, all the auctions conducted from 6/1/2021 00:00:00 UTC through 6/1/2021 23:59:59 UTC will use the same exchange rates converted to USD throughout the day.
Once we refresh the exchange rates on 6/2/2021 00:00:00 UTC, the exchange rate used going forward will be the exchange rates that was acquired as of 6/2/2021 00:00:00 UTC.
Given that the entire auction happens in USD, all reporting metrics in the UI will still be in USD. This includes both summary Quickstats and all the metrics available in the Reporting section of the UI.
Revenue Budgets set in native currencies will be converted to USD based on the logic of exchange rate refresh as described in the above section. It is critical for clients to note that due to the inherent and unpredictable fluctuation in exchange rates, revenue budgets set in native currencies converted to USD can get significantly impacted especially if the exchange rates fluctuate significantly over time. Due to the fact that we convert to USD each day, the value of a revenue budget set in a native currency changes from day to day.
To illustrate this point, consider the example below:
Say a client has set a lifetime revenue budget of 1,000 GBP on a Managed Demand Tag that has a flight period of 30 days form 5/1/2021 through 5/30/2021.
Looking at Exchange Rates over a month from https://www.bloomberg.com/quote/GBPUSD:CUR , the exchange rate fluctuates from $1.39 to $1.42 over a period of 30 days.
This implies that when we convert the exchange rate on day 1, based on the chart below, the revenue budget will be $1,390 but on day 30 the revenue budget will be $1,420.
Though the GBP revenue budget amount did not change, the corresponding USD amount increased by an amount of $30 over a period of 30 days.
Depending on if the dollar weakens in relation to the Pound or the Euro, this will cause the revenue budget values to be lower or higher than the original value set on day 1 of the budget.
Sourced from: https://www.bloomberg.com/quote/GBPUSD:CUR
Overspend is likely if you have a small budget and high volumes of traffic. You can overspend your budget if you receive a sudden surge of high volume traffic while we are conducting a budget check or before we have conducted our next budget check. Overspend or underspend can be additionally likely due to the effect exchange rate fluctuations can have on revenue budgets, especially over time.