brokerless

Brokerless describes approaches or systems that operate without a traditional intermediary, or broker, to coordinate interactions among participants. In computer science and finance, the term is used to indicate direct participation, decentralization, or reliance on automated protocols rather than a central middleman.

In distributed computing and messaging, brokerless architectures aim to remove a central message broker. Instead, nodes communicate via peer-to-peer overlays, distributed logs, or gossip-based routing. This can reduce single points of failure and potentially lower latency, but often requires more complex failure handling and robust connection management.

In finance, brokerless trading refers to direct access to venues, liquidity pools, or counterparties through APIs or direct market access, without going through a traditional brokerage. Proponents cite faster order routing and lower costs, while critics point to increased responsibility for compliance, risk controls, and connectivity reliability.

In other domains, brokerless design appears in decentralized identity, supply chains, and data sharing where participants transact or exchange data directly according to agreed rules, often enforced by smart contracts or consensus mechanisms rather than a central broker.

Adoption factors include the availability of robust network infrastructure, standards for interoperability, and regulatory frameworks that govern direct trading or data exchange. Brokerless systems emphasize autonomy and resilience but may require greater operational sophistication to manage risk and ensure fairness.

Related topics include brokers, brokered models, decentralized finance, and peer-to-peer networking.