In general, this disclosure describes a service peering exchange for creating and managing service-to-service paths among applications. For example, a service peering exchange with network connectivity with multiple networks may receive application programming interface (API) data describing APIs for services provided, e.g., by enterprises or cloud service providers (CSPs) and accessible via the networks using service requests. Such services may include, for example, data storage, eCommerce, billing, marketing, customer relationship management (CRM), social media, digital media, financial, weather, search, and other services accessible using machine-to-machine communication over a network. An administrator or customer of the service peering exchange may configure policies that are applied by the service peering exchange to orchestrate service-to-service paths among different services accessible via the different networks.