A type of membership website where users mutually agree to view each others advertising for a certain length of time (usually several seconds) in exchange for points or credits that may be accumulated to place your own ads.
While exchange advertising is not well-targeted and generally less effective, it can be advantageous as a paid source for Banner Advertising because ads are more prominently displayed in a way that may be more enticing, depending on the offer, to a general pool of marketers that are predominately failing demographically in their own efforts.
Traffic exchange memberships are usually free, with a few paid alternatives that generally claim to offer a degree of exclusivity or other incentive to justify the cost.