the Royal Exchange
 /ðə ˌrɔɪəl ɪksˈtʃeɪndʒ/
  /ðə ˌrɔɪəl ɪksˈtʃeɪndʒ/
- a theatre in Manchester, England, built in the city's old cotton exchange (= a large circular trading hall). The theatre reopened in 1998 after it was damaged by an IRA bomb in 1996.