The deal represents a strong return for the Senators, considering Conacher has been one of the most impressive rookies in the NHL and can immediately join the Senators' lineup during their playoff push.
The 5-foot-8 Conacher has nine goals and 15 assists this season and is second among all rookies with 24 points, only one behind Florida's Jonathan Huberdeau.
But in Bishop, the Lightning immediately address their goaltending issues. The 6-foot-7 Bishop has been effective in Ottawa while playing for the injured Craig Anderson, posting a record of 8-5-0 with a .922 save percentage and 2.45 goals-against average.
The deal gives the Lightning another option at goalie for starter Anders Lindback, who has been inconsistent in his first season as an NHL starter. Lindback is recovering from an ankle injury and hasn't played since March 20.