Earlier, we said that the [b]FIX Protocol[/b] not only increased the[b] speed of traders[/b] in the market, but also provided an opportunity for market participants to use [b]limit orders[/b], which reduced the risks of trading. Let\u0027s take a closer look at two types of limit orders. Let\u0027s start with the [i]FOK[/i] order. Literally, its name stands for - [i]\u0027Fill Or Kill\u0027[/i]. The essence of this order is that it is[b] executed immediately[/b] and in [b]full at the stated price[/b], or will not be executed at all, which eliminates the possibility of slippage. Thus, if your order[b] cannot be executed in full[/b], then the order is[b] simply rejected[/b], if the order [b]can be executed in full[/b], then the [b]order is executed in full at the specified price[/b]. [nerd] This type of order is very [b]convenient[/b] for [b]scalping[/b] or [b]arbitrage strategies[/b], as they [b]eliminate the risk of slippage[/b]. In fact, we can say that the [url=https://stocksharp.com/robot/18/edward-scissorhands/]\"Edward – Scissorhands\"[/url][b] arbitrage strategy[/b] from StockSharp [b]eliminates risks[/b]. Below is an example of the rejection of the [i]FOK[/i] order in the [i]CME[/i] system, due to the fact that the [b]order size is 20[/b], and the[b] book contains only 19[/b], so the order [b]can not be executed completely[/b], and the system cancels it. [img=110086]FOK-orde-FIX-protocol.jpg[/img] The next type of limit orders are [i]IOC[/i] orders. The name [i]\u0027Immediate OR Cancel\u0027 [/i]means that the [b]order is executed in whole or in part at the set price[/b], otherwise the order will be canceled. For example, if the [b]order size is 100 units[/b], only [b]50 units can be sold at the set price[/b]. If we use an order of type [i]FOK[/i], the system will cancel it, as it can not be fully executed. When using the [i]IOC[/i] [b]limit order[/b], the order will be [b]executed for 50 units[/b], and the [b]remaining ones will be canceled[/b]. [i]IOC[/i] also has another name [i]FAK[/i], which stands for [i]\u0027Fill And Kill\u0027[/i], executed and discarded the remainder.[nerd] For example, an [i]IOC[/i] order will be partially executed (in the [i]CME[/i] system, its name is [i]FAK[/i]). If we [b]buy 15[/b], and the book [b]contains only 10[/b], then we [b]buy 10[/b], and the [b]remaining 5[/b] are rejected, so this order can be called partially executable: [img=110085]IOK-order-FIX-protocol.jpg[/img] [b]Limit orders[/b] when working through the [b]FIX Protocol[/b] allow the trader to [b]reduce risks[/b], and in some cases, especially when working with [b]arbitrage strategies[/b] to [b]reduce them to zero[/b]. Our company provides a range of programs to work in the market through [b]FIX connect[/b], such as: designer trading strategies [url=https://stocksharp.com/products/designer/]Designer[/url], trading program [url=https://stocksharp.com/products/terminal/]Terminal[/url]. We also provide a full range of connectors for connection to trades, including FIX. Flexible system of discounts and reliability of connection, makes us one of leaders in the market. The full range of connectors and software can be found on our [url=https://stocksharp.com/products/pricing/]website[/url].