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diff --git a/operate-exchange.rst b/operate-exchange.rst
index 06dee2f2..874b837c 100644
--- a/operate-exchange.rst
+++ b/operate-exchange.rst
@@ -167,11 +167,72 @@ Keys duration
Both `signkeys` and `denom keys` have a :ref:`starting date <keys-duration>`. The option `lookahead_provide`, under section `[exchange_keys]`, is such that only keys
whose starting date is younger than `lookahead_provide` will be issued by the exchange.
+.. _exchange-install:
+
++++++++++++
Installation
++++++++++++
-TBD
+Please install the following packages before proceeding with the exchange compilation.
+
+* autoconf >= 2.69
+* automake >= 1.14
+* libtool >= 2.4
+* autopoint >= 0.19
+* libltdl >= 2.4
+* libunistring >= 0.9.3
+* libcurl >= 7.26 (or libgnurl >= 7.26)
+* GNU libmicrohttpd >= 0.9.39
+* GNU libgcrypt >= 1.6
+* libjansson >= 2.7
+* Postgres >= 9.4, including libpq
+* libgnunetutil (from Git)
+* GNU Taler exchange (from Git)
+
+Except for the last two, these are available in most GNU/Linux
+distributions and should just be installed using the respective
+package manager.
+
+The following instructions will show how to install libgnunetutil and
+the GNU Taler exchange.
+
+
+Before you install libgnunetutil, you must download and install the
+dependencies mentioned above, otherwise the build may succeed but fail
+to export some of the tooling required by Taler.
+
+To download and install libgnunetutil, proceed as follows::
+
+ $ git clone https://gnunet.org/git/gnunet/
+ $ cd gnunet/
+ $ ./bootstrap
+ $ ./configure [--prefix=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, GNUnet will install to
+``/usr/local``, which requires you to run the last step as
+``root``.
+
+To download and install the GNU Taler exchange, proceeds as follows::
+
+ $ git clone git://taler.net/exchange
+ $ cd exchange
+ $ ./bootstrap
+ $ ./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``. Note that you have to specify ``--with-gnunet=/usr/local``
+if you installed GNUnet to ``/usr/local`` in the previous step.
+++++
Other