Spectrum scarcity has become an important issue as demands for higher data rates increase in diverse wireless applications and aerospace communication scenarios. To address this problem, it becomes necessary to manage radio spectrum assignment in a way that optimizes the distribution of spectrum resources among several users while taking into account the quality of service (QoS) characteristics desired by the users of spectrum. In this paper, a novel approach to managing spectrum assignment based on Spectrum Trading (ST) will be presented. Market based spectrum assignment mechanisms such as spectrum trading are of growing interest to many spectrum management agencies that are planning to increase the use of these mechanisms for spectrum management and reduce their emphasis on command and control methods. This paper presents some of our initial work into incorporating quality of service information into the mechanisms that determine how spectrum should be traded when using a spectrum exchange. Through simulations and a testbed implementation of a QoS aware spectrum exchange our results show the viability of using QoS based mechanisms in spectrum trading and in the enhancement of dynamic spectrum assignment systems.