In this work we present an implementation of the exponential function in double precision, in a unit that supports IEEE floating-point arithmetic. As existing proposals, the implementation is based on the use of a floating-point multiplier and additional hardware. We decompose the computation into three subexponentials. The first and third subexponentials are computed in a conventional way (table look-up and polynomial approximation). The second subexponential is computed based on a transformation of the slow radix-2 digit-recurrence algorithm into a fast computation by using the multiplier and additional hardware. We present a design process that permits the selection of the most convenient trade-off between hardware complexity and latency. We discuss the algorithm, the implementation, and perform a rough comparison with three proposed designs. Our estimations indicate that the implementation proposed in this work presents better trade-off between hardware complexity and latency than the compared designs.