Brief conversation in telecom facility (8)

I believe the answer is:

exchange

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'brief conversation' is the definition.
'exchange' can be an answer for 'conversation' (exchange is a kind of conversation). I am not certain of the 'brief' bit.

I don't understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for exchange that I've seen before include "Price of one currency in another" , "Stock trading site" , "Substitute" , "Fight -- angel chews box (anag)" , "place of business" .)

I've seen this clue in The Times.

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