Who We Are:
Alpaca is a US-headquartered, global leader in agent-first brokerage infrastructure for stocks, ETFs, options, crypto, fixed income, 24/5 trading, and more.
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.
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.
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.
Our Team Members:
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!
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.
Your Role:
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.
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.
What You'll Walk Into
You won't be starting from zero — you'll be owning live problems:
- Multiple new exchange onboardings in flight, each with its own licensing, entitlement, and redistribution constraints.
- A pricing and packaging model that needs rethinking as we expand across asset classes and geographies.
- 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.
- Internal teams (trading, algo routing, compliance, clearing) consuming market data with no product owner ensuring coverage keeps pace.
Things You Get To Do
- 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.
- 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.
- 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.
- 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.
- Own the developer experience for market data APIs (REST, WebSocket/SSE, historical endpoints) — coverage, latency, reliability, and documentation that developers actually want to read.
- 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.
- Competitive Salary & Stock Options
- Health Benefits
- New Hire Home-Office Setup: One-time USD $500
- Monthly Stipend: USD $150 per month via a Brex Card
Alpaca is proud to be an equal opportunity workplace dedicated to pursuing and hiring a diverse workforce.
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Skills Required
- Proven product management experience owning data products or market data
- Experience negotiating exchange licensing, redistribution rights, and entitlements
- Experience designing pricing and packaging for data products (real-time, delayed, historical, tiers)
- Familiarity with APIs and developer-facing market data delivery (REST, WebSocket, SSE)
- Ability to assess build-vs-buy decisions for data infrastructure and normalization
- Commercial experience working with sales to grow revenue and position products competitively
- Experience partnering with internal stakeholders (trading, algo routing, compliance, clearing) to meet data needs
- Experience running partner discovery and prioritization for institutional customers (neobrokers, RIAs, hedge funds, exchanges)
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What We Do
Alpaca's mission is to unlock asset management for the people. We are a technology company that modularizes the world’s asset management activities. Alpaca’s products enable anyone to build and connect applications and algorithms to buy and sell stocks with zero commissions. We believe that everyone should have fair access to financial markets, regardless of who we are or where we are from. *Securities are offered through Alpaca Securities LLC (alpaca.markets)*
