Founding Hardware Engineer
Founding Hardware Engineer at PAX Markets — Redwood City, CA, US
- Company: PAX Markets
- Location: Redwood City, CA, US
- Employment type: FULL_TIME
- Salary: USD 150000–200000 / year
- Posted: 2026-07-17
About this role
What you’ll do:
As founding hardware engineer, you will be a core contributor to our ultra-low latency matching engine, implementing its technology as a hw/sw co-design in SystemVerilog, Rust, and C++.
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.
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:
SystemVerilog
FPGA or ASIC design experience
Rust and/or C++
HFT
Protobuf
Curiosity and ability to learn
Passion for trading and markets