# Types of Reserved Instances (offering classes)


The offering class of a Reserved Instance is either Standard or Convertible. A Standard Reserved Instance provides a more significant discount than a Convertible Reserved Instance, but you can't exchange a Standard Reserved Instance. You can exchange Convertible Reserved Instances. You can modify Standard and Convertible Reserved Instances.

The configuration of a Reserved Instance comprises a single instance type, platform, scope, and tenancy over a term. If your computing needs change, you might be able to modify or exchange your Reserved Instance.

## Differences between Standard and Convertible Reserved Instances


The following are the differences between Standard and Convertible Reserved Instances.


|  | Standard Reserved Instance | Convertible Reserved Instance | 
| --- | --- | --- | 
| Modify Reserved Instances | Some attributes can be modified. For more information, see [Modify Reserved Instances](ri-modifying.md). | Some attributes can be modified. For more information, see [Modify Reserved Instances](ri-modifying.md). | 
| Exchange Reserved Instances | Can't be exchanged. | Can be exchanged during the term for another Convertible Reserved Instance with new attributes, including instance family, instance type, platform, scope, or tenancy. For more information, see [Exchange Convertible Reserved Instances](ri-convertible-exchange.md). | 
| Sell in the Reserved Instance Marketplace | Can be sold in the Reserved Instance Marketplace. | Can't be sold in the Reserved Instance Marketplace. | 
| Buy in the Reserved Instance Marketplace | Can be bought in the Reserved Instance Marketplace. | Can't be bought in the Reserved Instance Marketplace. |