The most common and most likely answer to this crossword clue is the 11 letter word INTERACTIVE
I've seen this crossword clue in Independent
I
N
T
E
R
A
C
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Buddy explains!
The straight part
We know that "exchanging information" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case exchanging information = interactive.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.
Crossword Answer definitions
INTERACTIVE noun- A feature (as in a museum) that can be interacted with.
- Interacting with or communicating with and reacting to each other; influencing or having an effect on each other; acting or capable of acting on each other or with the other.
- Responding to the user.