Product Manager, New Assets

Your Role:

We’re seeking a Product Manager, New Assets to own one core sub-surface of Alpaca’s trading product area end-to-end - a new asset class (MMFs, Global Stocks, FX, Options) or an ancillary trading product (overnight, commission models, margin, IPO, FIX). Partners and developers are your primary customers; you ship API-driven trading capabilities that they actually adopt.

This role sits at the intersection of market structure, regulated trading execution, and developer experience. You’ll go deep on one part of the trading stack, shipping at production cadence in parallel with compliance, legal, and broker-dealer operations.

You’ll work closely with engineering, broker-dealer operations, market structure / execution, compliance, legal, partnerships, and the other PMs in the trading area. Success is measured by partner adoption and production usage of your surface - not by ship dates or volume of documentation alone.

Things You Get To Do

• 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.

Who You Are (Must-Haves)

• 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.

Who You Might Be (Nice-to-Haves)

• 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.