The reference ratefor attention.
Coal was priced. Oil was priced. Compute was priced. Attention is the last great factor of production without a number. Thalo publishes it.
Daily. Transaction-based. Free.
Every commodity that mattered got a price first.
The winner of each market was never the exchange. It was the benchmark, the neutral number everyone agreed to settle against. Attention is next in the sequence, and its index does not exist yet.
Coal & Iron
The ton and the rail tariff
A standard ton and a posted freight rate made an industrial economy's fuel tradeable for the first time.
Oil & Gas
WTI, Brent, Henry Hub
A barrel from Texas and one from the North Sea became comparable. The benchmark, not the barrel, was what the world quoted.
Compute
GPU-hour indices and forwards
A GPU-hour became a reference-priced, hedgeable unit. The benchmark, not the cloud, defined the market.
Attention
APX
The largest unpriced factor of production left. Attention is already traded forward. Thalo gives it the one thing every commodity got first: a number.
Attention already trades. It just has no price.
A trillion impressions clear every day, each one a tiny transaction. What none of them has is a single number to settle against.
Quoted price spread for a single product: one 30-second US CTV spot.
Instruments that exist today to hedge the largest line item in advertising.
Cost of the daily APX fix. Published free at 16:00 ET, forever.
There is no such thing as the CTV CPM.
Ask what a 30-second connected-TV ad costs and you will hear numbers from to , a thirteen-to-one spread. Every one is correct. They measure different things. A market cannot settle on a price it cannot define.
Hover any tier to inspect its price and what it measures. Every number here is a real quote for the same 30-second spot - a thirteen-to-one spread with no agreed reference.
Illustrative levels compiled from public rate cards and exchange data. Full methodology available on request.
How the fix is made.
Contributors
SSPs, verification vendors and publishers supply transaction records and independently verified impression counts.
Administrator
Thalo ingests records, applies exclusions by rule, and computes the volume-weighted median per partition.
APX Fix
The daily benchmark publishes at 16:00 ET, T+1, free, forever. No judgment. No discretion.
Distribution
Terminal feeds, API access, data subscriptions, calculation-agent services and exchange licensing.
A fix makes the future priceable.
Once a daily fix exists, the forward curve follows. This is what attention looks like priced six months out, Q4 attention locked in Q2.
Forward curve
indicative / APX-CTV30Help define the number.
The grade specification is being written now. The methodology will be published for formal consultation. Sign up to join the group defining the first transaction-based CTV price benchmark.