A three-way link exchange is a Reciprocal Link Exchange established between three domains. However, unlike a two-way link exchange, not all three sites link to each other. Page A links to Page B and Page B links to Page C and Page C links to Page A. Page B does not post a reciprocal link to Page A and Page C does not post a reciprocal link to Page B. Three-way link exchanges are used by owners of multiple websites to increase the Link Popularity and page rank of new or smaller sites.