Cryptic crossword clue
When exchanged, he pulls seasonal novelty, reportedly 8

The most common and most likely answer to this crossword clue is the 8 letter word KRAKATOA

I've seen this crossword clue in Financial Times
K
R
A
K
A
T
O
A


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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.


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