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 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 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](https://pax.markets/blog/pfof).
* [PAX rebates & fees](https://pax.markets/blog/rebates).
* [PAX λ API](https://pax.markets/blog/lambdas).

## 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