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+After installing GNUnet, unpack the GNU Taler exchange tarball,
+change into the resulting directory, and proceed as follows:
+
+.. code-block:: console
+
+   $ ./configure [--prefix=EXCHANGEPFX] \
+                 [--with-gnunet=GNUNETPFX]
+   $ # Each dependency can be fetched from non standard locations via
+   $ # the '--with-<LIBNAME>' option. See './configure --help'.
+   $ make
+   # make install
+
+If you did not specify a prefix, the exchange will install to ``/usr/local``,
+which requires you to run the last step as ``root``.  You have to specify
+``--with-gnunet=/usr/local`` if you installed GNUnet to ``/usr/local`` in the
+previous step.