Online travel service providers are faced with the challenge of " disintermediation "

在线旅游服务商面临“去中介化”挑战

This reflects another trend mr rubenstein highlighted in berlin last week : the disintermediation of private equity groups by some investors .

这反映了鲁宾斯坦两周前在柏林强调的另一个趋势：一些投资者对私人股本集团的非居间化。

In a nutshell , disintermediation refers to the internet 's tendency to cut out the middle man .

简单来说，层级简化指的是网络上中间人消失的趋势。

" Financial disintermediation " is a new term that appeared in 60 's last century in the united states .

“金融脱媒”是上世纪60年代在美国出现的一个新词。

Indeed , bankers and consultants say , it is banking functions such as lending cash and securities that will make disintermediation of their role difficult for exchanges to accomplish .

实际上，银行家和顾问表示，正是借贷现金和证券等银行功能，使得去除他们的中间业务职能让交易所难以完成。