This type of reaction is known as double displacement reaction. In this Cl and NO3 displaces each other.
A double displacement is a reaction in which the positive and negative ions of two ionic compounds exchange places to form two new compounds.
The double-displacement reaction generally takes the form of AB + CD → AD + CB where A and C are positively-charged cations, while B and D are negatively-charged anions.
Two examples of displacement reactions are: The reaction between iron and copper sulphate to give iron sulphate as product. Here, iron displaces copper because iron is more reactive than copper. The reaction between zinc and iron sulphate to give zinc sulphate as a product.
Learn more about double displacement reaction here:
