Bye bye brokerages

The Brazilian stock exchange is now allowing trading without using a brokerage; the trading allowed uses the awesomely cool algorithms that previously were only available through extremely expensive hedge funds. Wow. I'm trying to get my head around this.

Here's a bit of the Bloomberg article:

International algorithmic trading will allow investors to trade using computer programs though UBS without going through a brokerage, Switzerland’s biggest bank said in a press release. Zurich-based UBS began so-called direct market access in Brazil on July 2008, allowing stock traders to complete orders anonymously without going through a brokerage.