Dragan Not sure how it works before the season, but during the season, most of the time is 'waiver period' while during the 24 hours before lineups are locked down you can freely swap your players for free agents.
During the waiver period, you put in requests where you swap for free agents, but if more people have requested the same player, the one with the worst position on the table will get the player when the waiver period ends before a round.