Arrange higher company exchange (3,2)
I believe the answer is:
set up
'arrange' is the definition.
(I know that arrange can be written as set up)
'higher company exchange' is the wordplay.
I cannot quite understand how this works, but
'higher' could be 'up' and 'up' is present in the answer.
'company' could be 'set' (I've seen this in other clues) and 'set' is found within the answer.
No letters remain.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for set up that I've seen before include "Erect; fix" , "Arrangement; trick" , "Established" , "Informally, the structure of an organisation" , "Exalt - arrange - begin" .)