Founding Software Engineer

PAX Markets, Inc.; Redwood City (CA); On-site; USD 120,000 - 160,000; Full time

Job summary

PAX Markets, Inc. is looking for a founding software engineer to contribute to their ultra-low latency matching engine. This role involves implementing technology as a hardware/software co-design in Rust, providing traders with a cutting-edge trading experience.

The ideal candidate will have experience in high frequency trading or at an exchange, and strong skills in Rust and C++. Join PAX and be part of revolutionizing the trading industry!

Qualifications

• Experience in high frequency trading (HFT) or at an exchange.
• Strong programming skills in Rust and/or C++.

Responsibilities

• Contribute to the ultra-low latency matching engine using Rust.
• Implement technology as a hardware/software co-design.

Skills

Rust

C++

High Frequency Trading (HFT)

Protocol Buffers (Protobuf)

Curiosity and ability to learn

Passion for trading and markets

Job description

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 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.

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.).

Exchange Integrated High Frequency Trading Logic

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 Business Model

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.

Deep Dives On PAX Market Structure & Technology

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

Relevant Background

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

Skills

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