Product Manager - Derivatives

Alpaca is a global provider of brokerage infrastructure and financial services APIs. The company is seeking a Product Manager to own derivatives products and define the roadmap for listed futures and prediction markets, while collaborating with engineering, operations, risk, compliance, regulators, exchanges, clearing organizations, partners, and clients.

Responsibilities:

• Own derivatives products for Alpaca, with a primary focus on listed futures and prediction markets
• Drive derivatives product strategy by analyzing ROI, market competition, regulatory requirements, and build-vs-buy scenarios across venues, clearing, and execution
• Contribute to the product roadmap and product strategy with a focus on FCM launch readiness, CFTC/NFA-compliant features, and partner demand for futures and prediction markets
• Write product requirements and work with engineers to execute builds that meet regulatory, exchange, and clearing standards
• Lead customer and partner calls around derivatives process and product issues to gain insights and translate them into product improvements for Broker API and Trading API clients
• Participate in engagements with the CFTC, NFA, exchanges, and clearing organizations to drive product strategy and ensure regulatory alignment
• Report timely and accurately on product status and results to internal and external stakeholders, including regional partners and institutional clients
• Improve derivatives operation efficiency by providing solutions and owning the metrics, with a focus on margin, clearing, settlement, and trading-risk workflows
• Collaborate with operations, risk, and compliance teams to ensure seamless integration between Alpaca's global platform and the FCM market infrastructure
• Ad hoc duties and projects as assigned

Requirements:

• • Strong understanding of CFTC and NFA frameworks, FCM market structure, and the listed derivatives landscape
• • Bachelor's degree in computer science, engineering, finance, or equivalent
• • 5+ years of experience in Product Management, Engineering, Consulting, and/or starting a startup, preferably within financial services, fintech, or derivatives
• • Demonstrated interest and experience in futures, prediction markets, listed derivatives, or adjacent trading / brokerage infrastructure
• • Strong communication skills, both written and verbal, with excellent collaboration abilities
• • Business acumen to understand tradeoffs between stakeholders and technology feasibility with time and budget constraints
• • Excited about what Alpaca is building and passionate about expanding derivatives infrastructure for futures and prediction markets
• • Experience and background working on and developing futures, prediction markets, or other listed derivatives products
• • Technical background working with APIs, particularly in financial services or trading platforms
• • NFA Series 3 (or the ability to obtain it), or other CFTC/NFA-recognized credentials
• • Experience launching or operating inside an FCM, DCM, DCO, or other regulated derivatives venue
• • Familiarity with portfolio margin, cross-asset margin, institutional execution, or Prime Brokerage-adjacent workflows
• • Experience working at a fintech, startup, broker-dealer, FCM, or exchange
• • Knowledge of prediction market structure, event-contract design, and the regulatory overlay that sits on top of it