Exeter City forward Alan Gow has joined Bristol Rovers on loan until the end of the season.
And Pirates striker Eliot Richards has headed in the opposite direction on the same agreement.
Richards and Gow will both be eligible to represent their new clubs on Saturday when the loan window reopens for business, subject to the necessary paperwork being completed.
Grecians manager Paul Tisdale said: "Based on the current economic climate, the club is working hard to create funds to maintain the stability of Exeter City, and the board and I have collaborated to help save money by allowing Alan to join Bristol Rovers for the remainder of the season and that is the primary motivation behind the deal.
"As part of the arrangement, we have also had the opportunity to bring in another promising young player into our group with a view to the long-term, which fits in seamlessly with our model of developing young players.
"So we wish Alan all the best for his time with Bristol Rovers and we are looking forward to working with Eliot."
Gow has managed seven goals in 27 appearances for Exeter this term while Richards has found the net five times in 28 outings.
Bristol Rovers boss John Ward added on the club's official website: "We became aware that Alan hadn't played the last three games and that there was the possibility he might be available for loan.
"We spoke to the club and confirmed this and as part of the conversation it was discussed about Eliot Richards moving the other way.
"Alan is an experienced striker, and he is Exeter's top goal scorer so far this season, and that is what we are trying to bring to our side."