Product Manager, New Assets

Alpaca is a US-headquartered self-clearing broker-dealer and brokerage infrastructure company. They are seeking a Product Manager, New Assets to own a core sub-surface of Alpaca’s trading product area, focusing on new asset classes and ensuring partner adoption of API-driven trading capabilities.

Responsibilities:

• Own one core trading sub-surface end-to-end (a new asset class or an ancillary trading product) - drive prioritization, API design, and rollout inside your surface
• Run discovery with partners and prospects against real integration constraints, translate findings into a sequenced backlog for your surface, and push back on requests that don’t fit the platform without over-promising
• Ship to production at the cadence of a high-growth platform - write clear PRDs, align with engineering on API contracts, and produce documentation partners can implement against
• Partner with compliance, legal, and market-structure / execution teams on product decisions that touch licensing, trading rules, best execution, and venue connectivity - comfortable shipping in parallel with them in a regulated environment
• Improve operational efficiency in your surface - exception handling, partner-facing tooling, automation of repetitive ops - and own the metrics
• Track adoption beyond GA - trading volume, order success rate, partner activation, partner-reported blockers - and iterate on docs, SDK ergonomics, and rollout sequencing until your surface is actually being adopted
• Report timely and accurately on product status and results to internal and external stakeholders, including partners

Requirements:

• 5+ years of experience in Product Management, Engineering, Consulting, or starting a startup - preferably in equities, options, FX, money market funds, or other regulated trading / brokerage infrastructure
• Demonstrated depth on at least one trading surface - an asset class (MMFs, Global Stocks, FX, Options), execution / order management, margin, FIX, or another core trading capability - shipped to production scale
• Experience shipping B2B / developer-facing products: SDKs, APIs, partner integrations where developers and partners are the primary customer, not just end users
• Comfort shipping in parallel with compliance, legal, and market-structure teams in a regulated environment
• Experience analyzing data using SQL and a relevant BI tool
• Bachelor's degree in computer science, engineering, finance, or equivalent
• Business acumen to weigh stakeholder, tech feasibility, time, and budget tradeoffs
• Direct broker-dealer or institutional brokerage experience - Schwab, Fidelity, IBKR, Apex, Drivewealth, or correspondent-clearing equivalents
• Familiarity with the B2B2C correspondent / broker-as-a-service model - partners as primary customers, end retail customers downstream
• Direct experience shipping a non-US trading product (Global Stocks, FX, regional venues) or a complex asset class (Options, MMFs)
• Experience with US market structure and regulatory frameworks - Reg NMS, Reg SHO, FINRA / SEC rules around best execution, FINRA OATS / CAT
• Familiarity with FIX protocol, OMS / EMS systems, smart order routing, or venue / liquidity-provider integrations
• Background in broker-dealer trading operations (exceptions, trade breaks, regulatory reporting) and automation opportunities
• AI-native PM workflow - recurring use of tools like Cursor, Claude, ChatGPT, NotebookLM, or custom agents in PRD drafting, customer-call synthesis, data exploration, and prototyping