Nanomagnetic logic has the advantages in low power, non-volatility, and room temperature operation, however, low power on-chip clocking is the requirement of its integration. An on-chip clocking structure for a nanomagnetic logic circuit using exchange interaction is proposed in this work. This scheme is to use the Oersted field generated by current-carrying copper wire to magnetize ferromagnetic film cladding and then to switch the magnetization orientation of nanomagnets by the exchange interaction between magnetic layers. Simulation results demonstrate that the proposed scheme can reduce the power dissipation by 5/6 and the marginal spray field by 2/3 compared with the ferromagnetic yoked clocking that uses the external field to switch the magnetization. Therefore, it can reduce the power consumption and the risk of crosstalk. In addition, micromagnetic simulation verifies that nanomagnetic array laid on the proposed clocking can work functionally.