Founding Principal Hardware Engineer

Join to apply for the Founding Principal Hardware Engineer role at PAX Markets, Inc..

This range is provided by PAX Markets, Inc.. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.

Base pay range

$/yr - $/yr

What You’ll Do

• As founding principal hardware engineer, you will lead the design and in-production implementation of an exchange and co-located trading facility on a single silicon device. You will lead development of PAX core technology and set future design directions.

• PAX Ultra Low-latency In-silicon Matching Engine: PAX is building the world s first exchange and co-located trading facility on a chip. We will go-to-market using AWS F2 FPGA instances and follow-on with an ASIC design that combines network aggregation with exchange functionality.

• With only the F2 FPGA setup, PAX will immediately provide the fastest tick-to-trade and market data publication in the world, across all exchanges (e.g. faster than NYSE, Deutsche Börse, etc.).

• Exchange Integrated High Frequency Trading Logic:
The PAX λ API provides traders with on-chip exchange integrated HFT decision logic. Using the λ API, traders can make markets or take arbitrage opportunities. The λ API enables traders to respond to market events the very instant the information is registered in the exchange matching engine.

• PAX Business Model: PAX sells access to its ultra-low latency λ API and offers trading otherwise for free. Existing exchanges typically offer rebates for liquidity providers (makers) and charge fees to liquidity takers (the maker/taker fee structure). At PAX when λ and non-λ orders pair together, the free-tier order is given a cash rebate regardless of whether their order was characterized as making or taking.

PAX is the first exchange to offer zero-fee trading and rebates for both making and taking.

• Deep Dives On PAX Market Structure & Technology:
On-exchange trading incentives with inherent price competition. PAX rebates & fees. PAX λ API.

Relevant Background

Candidates with experience in high frequency trading (HFT) or at an exchange are encouraged to apply.

Skills

• System Verilog

• FPGA or ASIC design experience

• Rust and/or C++

• HFT

• Protobuf

• Curiosity and ability to learn

• Passion for trading and markets

Seniority level

• Mid-Senior level

Employment type

• Full-time

Job function

• Engineering and Information Technology

Industries

• Capital Markets

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