The standard paradigm in Real Time Ethernet systems is the master/slave configuration and although intrinsically allowed by many protocols, peer-to-peer system architectures have received little exposure. In this paper the authors present a high performance peer-to-peer Ethernet POWERLINK implementation. Instead of using a Managing Node it builds on the concept of a bus master whose sole purpose is to schedule traffic on the bus enabling the nodes to communicate with each other using the cross-traffic facility. The authors present the solution architecture, discuss implementation aspects and propose a change to the POWERLINK standard based on drawn conclusions.