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You can space with whoeveryou choose but you CAN'T spacebank the same week with more than one company. As soon as you spacebank a week you give up all rights to it and from that point on, the week is owned by whoever you spacebanked it with.
And that makes sense. If you spacebank with two companies, what happens if both match it up to someone? They don't communicate with each other.
Not sure if VRI has what's called a "request first," like Interval does. You could put in a request with VRI without depositing your week if they have that system, and if you don't get what you want, deposit it with RCI. But basically, with very, very few exceptions, once it's in RCI's clutches, it's gone.
VRI lets you see all exchanges that available but you cannot do the exchange until you have deposited your week. When you deposit your week there is a couple of days delay until your resort confirms that you have paid your maint. fee for the current year.
I did an exchange last summer and it worked out okay did not loose the exchange that I wanted while the process was followed. There is no holding an exchange while this process is done.
VRI exchanges are limited to their own resorts only and is managed by Trading Places.