Product Manager, New Assets

About the role

Alpaca is seeking a Product Manager to take ownership of a key trading product area. You will be responsible for developing and launching new asset classes or trading functionalities, focusing on delivering API-driven solutions that partners will readily adopt. This role requires a deep understanding of market structure and regulatory trading environments.

Key facts

What you'll do

• Lead the complete lifecycle of a specific trading sub-surface, from initial concept and API design through to market release.
• Conduct research with potential partners to understand real-world integration challenges and translate these insights into a prioritized product roadmap.
• Deliver product updates at a pace consistent with a rapidly growing platform, authoring clear product specifications and collaborating with engineering on API agreements.
• Work closely with compliance, legal, and market structure teams to ensure product decisions align with licensing, trading regulations, and best execution standards.
• Enhance the operational efficiency of your product area through automation, improved exception handling, and partner-facing tools.
• Monitor and analyze adoption metrics post-launch, such as trading volume and partner activation, to inform iterative improvements to documentation and product design.
• Provide regular and accurate updates on product progress and outcomes to both internal teams and external partners.

Requirements

• A minimum of 5 years of experience in product management, engineering, consulting, or entrepreneurship, ideally within regulated trading or brokerage infrastructure like equities, options, FX, or money market funds.
• Proven expertise in at least one core trading area, such as an asset class (MMFs, Global Stocks, FX, Options), order management, margin, FIX protocol, or a similar fundamental trading capability, with a track record of shipping to production.
• Experience developing and launching business-to-business products, including SDKs and APIs, where developers and partners are the primary users.
• Comfort operating and shipping products in parallel with compliance, legal, and market structure departments within a regulated industry.
• Proficiency in data analysis using SQL and a business intelligence tool.
• A Bachelor's degree in computer science, engineering, finance, or a related field.
• Strong business judgment to balance stakeholder needs, technical feasibility, timelines, and budget constraints.

Nice to have

• Prior experience working directly for a broker-dealer or institutional brokerage firm.
• Familiarity with the correspondent or broker-as-a-service business model, where partners are the main clients.
• Direct experience launching trading products for international markets or complex asset classes like options or MMFs.
• Knowledge of US market structure and regulatory frameworks, including FINRA and SEC rules.
• Understanding of FIX protocol, order management systems, smart order routing, or integrations with liquidity providers.
• Background in broker-dealer trading operations, including exception management and regulatory reporting.
• Experience incorporating AI tools into product management workflows, such as for drafting specifications or synthesizing customer feedback.

Skills & tools

• SQL
• Business Intelligence Tools
• API Design
• Product Roadmapping
• PRD Authoring
• Partner Integration

Practical notes

• Competitive salary and stock options.
• Health benefits.
• A one-time USD $500 home-office setup allowance for new hires.
• A monthly stipend of USD $150 via a Brex Card.