Merchant and master in exchange (9)
I believe the answer is:
tradesman
This clue might be a double definition.
'merchant' is the first definition.
(tradesman is a kind of merchant)
'master in exchange' is the second definition.
The answer and definition can be both people as well as being singular nouns.
Maybe you can see a link between them that I don't see?
'and' is the link.
Can you help me to learn more?
(Other definitions for tradesman that I've seen before include "One buying and selling" , "Small businessman" , "Retailer - artisan" , "Business operator" , "Buyer/seller of goods" .)