Product Manager - Market Data

<div class="content-intro"><p><strong>Who We Are:</strong></p> <p><strong>Alpaca is a US-headquartered, global leader in agent-first brokerage infrastructure&nbsp;</strong>for stocks, ETFs, options, crypto, fixed income, 24/5 trading, and more.<br><br>Amongst our subsidiaries, Alpaca is a licensed financial services company, serving hundreds of financial institutions across 40 countries with our institutional-grade APIs. This includes broker-dealers, investment advisors, wealth managers, hedge funds, and crypto exchanges, totalling over 10 million brokerage accounts.<br><br>Our global team is a diverse group of experienced engineers, traders, and brokerage professionals who are working to achieve our mission of opening financial services to everyone on the planet. We're deeply committed to open-source contributions and fostering a vibrant community, continuously enhancing our award-winning, developer-friendly API and the robust infrastructure behind it.<br><br><strong>Alpaca is proudly backed by $400 million in funding from top-tier global investors including Portage Ventures, Spark Capital, Tribe Capital, Social Leverage, Horizons Ventures, Opera Tech Ventures, SBI Group, Derayah Financial, Unbound, Peak XV, Elefund, and Y Combinator.</strong><br><br><strong>Our Team Members:</strong></p> <p>We're a dynamic team of 400+ globally distributed members who thrive working from our favorite places around the world, with teammates spanning the USA, Canada, Japan, Hungary, Nigeria, Brazil, the UK, and beyond!<br><br>We're searching for passionate individuals eager to contribute to Alpaca's rapid growth. If you align with our core values—Stay Curious, Have Empathy, and Be Accountable—and are ready to make a significant impact, we encourage you to apply.</p></div><p data-pm-slice="1 1 []"><strong>Your Role:</strong>&nbsp;</p> <p>Alpaca is already the infrastructure layer that hundreds of partners build on for execution. Nobody else is both the execution layer and the data layer - and that makes us the natural one-stop shop for brokerage plus market data. We're hiring a Lead Product Manager to own that second half: define and grow Alpaca's market data business as a standalone, revenue-generating product line.</p> <p>We're seeking a Lead Product Manager, Market Data to define and own Alpaca's market data strategy - both as a capability that powers our platform and as a standalone, revenue-generating product line.</p> <p>This role is equal parts strategy and delivery. You'll decide what data we source, how we package and price it, what we build versus buy - and then ship the APIs, feeds, and tooling that partners and internal teams depend on every day.</p> <p>What You'll Walk Into</p> <p>You won't be starting from zero - you'll be owning live problems:</p> <ul> <li>Multiple new exchange onboardings in flight, each with its own licensing, entitlement, and redistribution constraints.</li> <li>A pricing and packaging model that needs rethinking as we expand across asset classes and geographies.</li> <li>Partners asking for data we don't serve yet - consolidated feeds, historical datasets, derived analytics - you'll be building those requests against cost and commercial upside.</li> <li>Internal teams (trading, algo routing, compliance, clearing) consuming market data with no product owner ensuring coverage keeps pace.</li> </ul> <p>Things You Get To Do</p> <ul> <li>Negotiate or inform negotiations on exchange licensing, redistribution rights, and entitlements as Alpaca onboards new exchanges and asset classes - you'll talk to vendors and global venues directly.</li> <li>Assess build-vs-buy for data infrastructure: where do we source from third parties, where do we invest in proprietary collection and normalization, and where do we create derived or value-added data products.</li> <li>Build the commercial model: define pricing and packaging (real-time vs. delayed, depth-of-book tiers, historical datasets, derived analytics) and work with sales to grow market data revenue.</li> <li>Own the competitive position: understand how dedicated market data providers price and differentiate, and identify where Alpaca's bundled brokerage-plus-data model creates a defensible edge.</li> <li>Own the developer experience for market data APIs (REST, WebSocket/SSE, historical endpoints) - coverage, latency, reliability, and documentation that developers actually want to read.</li> <li>Lead partner discovery: understand what data capabilities are table-stakes vs. differentiating for neobrokers, RIAs, hedge funds, and crypto exchanges, and turn that into prioritization.</li> </ul><div class="content-conclusion"><h3><strong>How We Take Care of You:</strong></h3> <ul> <li style="font-weight: 400; text-align: justify;"><span style="font-weight: 400;">Competitive Salary &amp; Stock Options</span></li> <li style="text-align: justify;">Health Benefits</li> <li style="font-weight: 400; text-align: justify;"><span style="font-weight: 400;">New Hire Home-Office Setup: One-time USD $500</span></li> <li style="font-weight: 400; text-align: justify;"><span style="font-weight: 400;">Monthly Stipend: USD $150 per month via a Brex Card</span></li> </ul> <p><em><span style="font-weight: 400;">Alpaca is proud to be an equal opportunity workplace dedicated to pursuing and hiring a diverse workforce.<br></span></em></p> <p><span style="font-size: 8pt;"><a href="https://files.alpaca.markets/disclosures/AlpacaRecruitmentPrivacyPolicy.pdf"><em><span style="font-weight: 400;">Recruitment Privacy Policy</span></em></a></span></p></div>