Meaning of “information exchange” in the English Dictionary

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"information exchange" in Business English

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information exchangenoun [ C or U ]

uk us

IT, COMMUNICATIONS the act of people, companies, and organizations passing information from one to another, especially electronically, or a system that allows them to do this:

The government said that it was prepared to crack down on tax evasion in the EU through a system of information exchange.
The state is developing an information exchange that would allow public and private hospitals to swap records for patients they have in common.

(Definition of “information exchange” from the Cambridge Business English Dictionary © Cambridge University Press)