Cryptic crossword clue
Compromising exchanges foolishly flirting Fancy-Fancy at first dares to produce 5-4

The most common and most likely answer to this crossword clue is the 10 letter word TRADE-OFFS

I've seen this crossword clue in The Guardian
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Buddy explains!

The straight part
We know that "Compromising exchanges" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case compromising exchanges = trade-offs.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does TRADE-OFFS mean?

TRADE-OFFS noun
  1. Any situation in which the quality or quantity of one thing must be decreased for another to be increased.

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