TIM TARANTO is officially on the move from Greater Western Sydney to Richmond after both clubs agreed to a deal on the opening day of the Continental Tyres AFL Trade Period.

The former No.2 pick makes his way south in exchange for picks 12 and 19. The Giants now hold three picks - including pick No.3 - in the first 19 selections.

Taranto has committed to Richmond for seven years, tying him to the club until the end of the 2029 season.

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Taranto, 24, has played 114 AFL games since making his debut in 2017. He averaged more than 25 disposals and five tackles per game this season.

Giants football manager Jason McCartney said the club is pleased to bring in two strong draft selections.

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"While we'd clearly prefer to keep all of our players, circumstances dictate otherwise and we're thrilled to secure a fantastic outcome for the GIANTS," he said.

"We worked with Richmond to secure a suitable trade for our club, and we're excited to take an extremely strong hand into this year's draft to continue to build a successful list and add to our group with some of the country's top talent.

"I would like to thank Tim for his contribution to the Giants over the past six years. He's been a committed and consistent player for our club but received a lucrative offer elsewhere that he simply couldn’t refuse."

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Richmond football talent manager Blair Hartley said securing Taranto's signature was exciting news for the Club.

"Tim is a player we admire because of his obvious on-field ability and also his work rate, high standards and leadership traits," he said.

"At only 24 years of age, Tim has a lot of very good football ahead of him, and we are delighted that he will have the opportunity to do that in yellow and black.

"We think Tim will be a very popular player among his new teammates, coaches, staff, and of course, our supporter base."

Jacob Hopper and Tim Taranto celebrate a goal during the R20 clash between GWS and Sydney on August 3, 2019. Picture: AFL Photos

Teammate Jacob Hopper has also nominated the Tigers as his preferred home, with a deal likely to be made later in the trade period.

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Small forward Bobby Hill has joined Collingwood in exchange for a future second-round pick, while the two clubs also swapped third-round picks.