A method and apparatus for carrying out a roving bobbin exchange operation when applied to a conventional ring spinning frame. The roving bobbin exchange operation is simultaneously carried out on a plurality of successive pairs of a front bobbin hanger and a back bobbin hanger of the creel portion of the spinning frame by intermittently displacing the operation unit along the spinning frame and by utilizing a plurality of pairs of a first sub-peg unit having a front peg and a back peg, and a second sub-peg unit having a front peg and a back peg unit, whereby a roving bobbin mounted on the front peg of the first sub-peg unit can be transferred to the back peg of the second sub-peg unit, and vice versa, during the exchange operation, and thus the unit roving bobbin exchange operation can be carried out in a very limited space defined by twice a pitch between two adjacent pairs of a front bobbin hanger and a back bobbin hanger facing the first bobbin hanger.