This deal comes just days after the Lightning dealt Dominic Moore and Pavel Kubina to the San Jose Sharks and Philadelphia Flyers, respectively.
In 55 games with the Bolts this season, Downie has recorded 12 goals and 28 points. Quincey has 23 points in 54 games with Colorado.
In this trade, the Lightning certainly improve their defensive core, and the Colorado Avalanche add some much-needed help on the wing in hopes of making a playoff push.
As the NHL's February 27 trade deadline draws nearer, look for the Tampa Bay Lightning and other teams to be the big sellers and deal their assets.