The situation is referred to slightly differently, depending on whether the Pieces Exchanged were of equal value (e.g. two Queens); or one Piece is more valuable than the other (e.g. a Rook is Exchanged for a less-valuable Knight).
Whenever "an Exchange" is made, the two Pieces are the same - e.g. "both players Exchange Queens"; or, "both players make an Exchange of Knights/Bishops/Rooks".
Exchanges are sometimes played for when a game appears to be at, or heading for. a standstill; a player may initiate an Exchange, in order to keep the game's momentum going ...
Being equal value, both players will remain on an equal-footing, in the game, so such an Exchange is often accepted by the opponent.
Alternatively, a player may want to bring a bit of psychology into their game ... Some players, particularly beginners, are overly reliant on playing with their Queen ...
As soon as they lose their Queen, their whole game plan goes out the window and they often become easier to pick apart. (It's certainly worth a try, providing you've learnt to adapt your game, to playing without YOUR own Queen).
This "Swapping" of material gives rise to the term "Swap Off" - another name for when an Exchange takes place.
The Exchange occurs when a minor piece - Knight or Bishop - is deliberately lost in order to capture a Rook ... And vice-versa.
The purpose of losing a minor piece, in this situation, is more obvious - the player gets to capture a piece that's worth more than the one you've lost.
The purpose of losing a Rook, in this situation, is usually either:
In either capture - by the Rook - the Pawn or minor piece is usually protected, which is how the Rook, inevitably, succumbs to being captured, in "The Exchange"
(Winning The) Exchange
When a player manages to Exchange a minor piece for a Rook, the side which wins the Rook "Wins the Exchange" ...
Conversely, the side that loses a Rook, to a minor piece, is said to have "Lost the Exchange".
Naturally, Losing th.e Exchange CAN hurt your prospects for winning a game of Chess ... But, as the video clip showed, a player can deliberately Lose th.e Exchange and emerge with a slight positional advantage.
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