Techniques are provided for exchanging dedicated hardware signals to manage a first-in first-out (FIFO). In an embodiment, a first processor initiates content transfer into the FIFO. The first processor activates a first hardware signal that is reserved for indicating that content resides within the FIFO. A second processor activates a second hardware signal that is reserved for indicating that content is accepted. The second hardware signal causes the first hardware signal to be deactivated. This exchange of hardware signals demarcates a FIFO transaction, which is mediated by interface circuitry of the FIFO.