Exchange

About this board game

Exchange is a strategic stock-trading game for 3–6 players that plays in about 45 minutes. Set in New York City in 1792, it places players among the brokers who signed the Buttonwood Agreement, competing to build the greatest fortune.

Over five rounds, players plan their actions across three distinct phases: Stock Selection, Buy/Sell, and Market Influence. Decisions are placed face down and revealed simultaneously, allowing everyone to learn from the table while keeping important details hidden.

• Stock Selection Phase: Choose a stock-related card and place it in the phase sleeve.
• Buy/Sell Phase: Make transactions while interpreting what opponents may be planning.
• Market Influence Phase: Move the price of one stock up or down, then resolve a Market Forces card.

The phase sleeves reveal only part of each player’s decision. You may discover that an opponent is selling a specific stock without knowing how much, creating a constant contest of deduction, timing, and adaptation. The market changes as players influence prices and react to the choices revealed around the table.

Once prices have been adjusted, players complete their transactions with the bank at the new values. They must also watch the Market Bubble, which can flip a stock’s price when it rises too high or falls too low.

At the end of the fifth round, each player totals the value of their stocks and cash. In Exchange, the player with the highest net worth wins by combining careful planning with the ability to read and outwit the other brokers at the table.