Abstract: Methods and systems for selecting, in a broker-dealer system for automated trading of securities, a path for sending an order for securities to a terminus market, in which the broker-dealer system includes at least one port, the port being coupled through at least one path to at least one terminus market, wherein each path includes at least one direct link between a port and a market system and optionally one or more additional links between the said market system and other market systems, each path having a first terminus at a port and a second terminus at a terminus market, terminus markets being markets to which orders for securities are sent by the broker-dealer system, the method comprising the steps of: providing one or more path data structures representing one or more paths connecting the broker dealer system to one or more terminus markets, each path data structure comprised of data elements further comprising a port code, a terminus market code identifying the terminus market for the path, and one o