Latest newspaper speculation has out-of-favour Collingwood forward John Anthony as possible bait in any trade talks.
Tarrant, who played 161 matches for the Magpies from 1998-2006 before moving west has reportedly nominated Collingwood as his preferred destination.
The Herald Sun newspaper says Anthony, 22, may be the best option for the Magpies in any negotiations with Fremantle.
He kicked 50 goals in 2009, but played only seven matches this season, losing his spot in the Magpies' best 22 to Chris Dawes.
The Herald Sun also reported that Essendon was determined to hold onto midfielder Bachar Houli, 22, who has been linked with Richmond and Carlton, and would resist if he requested a trade, potentially forcing him into the NAB AFL Draft.
Follow our complete coverage of the 2010 AFL exchange period from October 5-11. No trades are official until paperwork has been accepted by the AFL and formally recognised after 2pm on Monday, October 11.
Join the AFL trade conversation on Twitter: use #tradeweek in your tweets.