From Longman Dictionary of Contemporary Englishtelephone exchangeˈtelephone exˌchange noun [countable] TCTan office where telephone calls are connected
Examples from the Corpus
telephone exchange• It is as vital as the plastic insulation in a telephone exchange.• Kodachrome was developed by two musicians and the original automatic telephone exchange by an undertaker.• The train has its own telephone exchange and electricity generating car, plus office accommodations and restaurant cars for the royal entourage.• The telephone exchange was all plugs and manual dialling-not a computer in sight.From Longman Business Dictionarytelephone exchangeˈtelephone exˌchange noun [countable] a central building or office where telephone calls are connected to other telephones, or the equipment that is useda digital telephone exchangeIndonesia’s telephone exchange system 