Definition of "Exchange" :
noun: (chess) the capture by both players (usually on consecutive moves) of pieces of equal value
"The endgame began after the exchange of queens."
noun: (chess) gaining (or losing) a rook in return for a knight or bishop
"Black lost the exchange."
noun: the act of putting one thing or person in the place of another:
noun: reciprocal transfer of equivalent sums of money (especially the currencies of different countries)
noun: the act of giving something in return for something received
"Deductible losses on sales or exchanges of property are allowable."
noun: the act of changing one thing for another thing
"Adam was promised immortality in exchange for his disobedience."
noun: (sports) an unbroken sequence of several successive strokes
noun: a workplace that serves as a telecommunications facility where lines from telephones can be connected together to permit communication
noun: a workplace for buying and selling; open only to members
noun: a mutual expression of views (especially an unpleasant one)
"They had a bitter exchange."
noun: chemical process in which one atom or ion or group changes places with another
verb: change over, change around, as to a new order or sequence
verb: exchange or replace with another, usually of the same kind or category
verb: exchange a penalty for a less severe one
verb: give to, and receive from, one another
verb: put in the place of another; switch seemingly equivalent items
verb: hand over one and receive another, approximately equivalent