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

$200,000.00 / yr - $225,000.00 / 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

Seniority level

Employment type

Job function

Industries

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