A catheter exchange member is provided for reducing exchange time when replacing one catheter (or similar device) with another in the vascular anatomy of a patient. The catheter exchange member includes a tubular body having a proximal and a distal end and a central lumen. A tapered fixture having a distal port and a proximal opening which is larger than the distal port is attached to the tubular body at the distal port. An elongate shaft is attached to and extends proximally from either the tapered fixture or the tubular body. The exchange member is preferably used within a conventional guiding catheter where the tubular body is advanced through a distal end of the guiding catheter and into the coronary artery while the tapered fixture remains in the guiding catheter. This configuration allows various therapeutic and diagnostic devices to be stored within the guiding catheter just proximal to the tapered fixture. One of the devices can be placed within the coronary artery by simply advancing it through the tapered fixture which channels the device into the tubular body and into the coronary artery. The device may be replaced with another by simply removing it and advancing the second device into the tapered fixture and into the coronary artery.