Lead Product Manager, Market Data

About the role

This Lead Product Manager role centers on developing and implementing Alpaca's market data strategy. The position requires a focus on both expanding data capabilities and driving revenue. Key responsibilities include evaluating data sourcing options, from third-party providers to internal development, and creating value-added data products. The goal is to ensure Alpaca's market data offerings are robust and competitive within the financial services landscape.

A significant part of the role involves commercializing market data. This includes defining pricing structures and packaging for various data types, such as real-time, delayed, historical datasets, and derived analytics. The Lead Product Manager will also work closely with sales teams to grow market data revenue and analyze how Alpaca's bundled brokerage and data model provides a competitive advantage compared to dedicated market data providers.

The role also encompasses improving the developer experience for market data APIs, ensuring high standards for coverage, latency, reliability, and documentation. Collaboration with partners is crucial to understand their data needs and prioritize development efforts. This involves engaging with neobrokers, RIAs, hedge funds, and crypto exchanges to identify essential versus differentiating data capabilities.

The salary for this full-time remote position ranges from $128,000 to $212,000 annually.

Skills that matter here

• APIs: This role requires a strong understanding of APIs to manage the developer experience for market data endpoints.
• REST: The Lead Product Manager will oversee the developer experience for market data APIs, including REST endpoints.
• WebSocket: This position involves managing the developer experience for market data APIs, specifically WebSocket endpoints.
• SSE: The role includes responsibility for the developer experience of market data APIs, such as SSE endpoints.

Who this role suits

• A product manager with a proven track record in market data or financial services.
• Someone adept at strategic decision-making regarding build-vs-buy scenarios for data infrastructure.
• An individual with strong analytical skills to develop and implement pricing and packaging models.
• A professional who excels at communication and collaboration with both internal teams and external partners.

From the employer

• Negotiate or inform negotiations on exchange licensing, redistribution rights, and entitlements as Alpaca onboards new exchanges and asset classes.
• Assess build-vs-buy for data infrastructure: where do we source from third parties, where do we invest in proprietary collection and normalization, and where do we create derived or value-added data products.
• Build the commercial model: define pricing and packaging (real-time vs. delayed, depth-of-book tiers, historical datasets, derived analytics) and work with sales to grow market data revenue.
• Own the competitive position: understand how dedicated market data providers price and differentiate, and identify where Alpaca's bundled brokerage-plus-data model creates a defensible edge.
• Own the developer experience for market data APIs (REST, WebSocket/SSE, historical endpoints) — coverage, latency, reliability, and documentation that developers actually want to read.
• Lead partner discovery: understand what data capabilities are table-stakes vs. differentiating for neobrokers, RIAs, hedge funds, and crypto exchanges, and turn that into prioritization.

• Proven experience as a Product Manager, preferably in market data or financial services.
• Strong understanding of APIs, REST, WebSocket, and SSE.
• Experience in negotiating licensing and redistribution agreements.
• Ability to assess build-vs-buy decisions for data infrastructure.
• Strong analytical skills to define pricing and packaging models.
• Excellent communication skills to work with internal teams and external partners.

• Competitive Salary & Stock Options
• Health Benefits
• New Hire Home-Office Setup: One-time USD $500
• Monthly Stipend: USD $150 per month via a Brex Card
• Equal opportunity workplace dedicated to hiring a diverse workforce.