Usually means: Exchange of data between networks.
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We found 20 dictionaries that define the word peering:

General (14 matching dictionaries)
  1. peering: Merriam-Webster
  2. peering: Oxford Learner's Dictionaries
  3. peering: Collins English Dictionary
  4. peering: Vocabulary.com
  5. Peering, peering: Wordnik
  6. peering: Cambridge Advanced Learner's Dictionary
  7. peering: Wiktionary
  8. Peering, peering: Dictionary.com
  9. peering: Cambridge Essential American English Dictionary
  10. Peering: Wikipedia, the Free Encyclopedia
  11. Peering: Online Plain Text English Dictionary
  12. Peering: AllWords.com Multi-Lingual Dictionary
  13. peering: FreeDictionary.org
  14. peering: TheFreeDictionary.com

Business (1 matching dictionary)
  1. peering: Legal dictionary

Computing (3 matching dictionaries)
  1. Peering: Linktionary Networking Glossary
  2. Technopedia (No longer online)
  3. peering: Encyclopedia

Medicine (1 matching dictionary)
  1. peering: Medical dictionary

Miscellaneous (1 matching dictionary)
  1. peering: Idioms

(Note: See peer as well.)

Definitions from Wiktionary (peering)

noun:  The act of one who peers; a looking around.
noun:  (Internet) The act of carrying communications traffic terminating on one's own network on an equivalency basis to and from another network, usually without charge or payment.

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