Founding Software Engineer

What You’ll Do

As founding software engineer, you will be a core contributor to our ultra‑low latency matching engine, implementing its technology as a hw/sw co‑design in Rust.

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.

PAX provides the fastest tick‑to‑trade and market data publication in the world, across all exchanges (e.g. faster than NYSE, Deutsche Börse, etc.).

The PAX lambda API provides traders with on‑chip exchange integrated HFT decision logic. Using the lambda API, traders can make markets or take arbitrage opportunities. The lambda API enables traders to respond to market events the very instant the information is registered in the exchange matching engine.

PAX sells access to its ultra‑low latency lambda 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 lambda and non‑lambda 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.

• On‑exchange trading incentives with inherent price competition.
• PAX rebates & fees.
• PAX lambda API.

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

• Rust and/or C++
• HFT
• Protobuf
• Curiosity and ability to learn
• Passion for trading and markets