Operations Analyst, Market Data at Alpaca

About Alpaca

Alpaca is a US-headquartered, global leader in agent-first brokerage infrastructure for stocks, ETFs, options, crypto, fixed income, 24/5 trading, and more. Among its subsidiaries, Alpaca is a licensed financial services company serving hundreds of financial institutions across 40 countries with institutional-grade APIs, including broker-dealers, investment advisors, wealth managers, hedge funds, and crypto exchanges, totaling over 10 million brokerage accounts.

The global team is a diverse group of experienced engineers, traders, and brokerage professionals working to achieve the mission of opening financial services to everyone on the planet. Alpaca is deeply committed to open-source contributions and fostering a vibrant community, continuously enhancing its award-winning, developer-friendly API and the robust infrastructure behind it. Alpaca is backed by $400 million in funding from top-tier global investors including Portage Ventures, Spark Capital, Tribe Capital, Social Leverage, Horizons Ventures, Opera Tech Ventures, SBI Group, Derayah Financial, Unbound, Peak XV, Elefund, and Y Combinator.

Our Team

Alpaca is a dynamic team of 400+ globally distributed members who thrive working from their favorite places around the world, with teammates spanning the USA, Canada, Japan, Hungary, Nigeria, Brazil, the UK, and beyond. The company is searching for passionate individuals eager to contribute to Alpaca's rapid growth. If you align with the core values of Stay Curious, Have Empathy, and Be Accountable, and are ready to make a significant impact, you are encouraged to apply.

Your Role

As Operations Analyst for Market Data, you will be responsible for managing the data licensing, usage reporting, and entitlements that underpin Alpaca's market data product, keeping the company compliant with all of its data sources while delivering market data to millions of users. After successful and rapid growth with the Trading API and Broker API, Alpaca is now building out its market data product. The team is rapidly growing and works with a growing number of exchange groups and data providers, as well as brokers and partners who redistribute the data to their own customers. Alpaca is looking for someone highly organized and detail-oriented to own the operational backbone of its market data business. You will work closely with data sources and broker/partner customers, as well as internal teams across market data, sales, legal, finance, and engineering.

Things You Get To Do

• Manage new data licenses and renewals with all data sources, including exchange groups and other data providers
• Track license terms, renewal dates, and obligations so that nothing lapses
• Prepare and submit accurate, on-time monthly usage reporting for each data feed to each data source
• Monitor the licensing of brokers/partners redistributing the data, maintaining current evidence of distribution licensing/authorization for each one
• Enable and disable data feeds for broker/partner customers in line with their licensing and contracts
• Respond to data source audits and inquiries, keeping licensing records and documentation complete and up to date
• Identify opportunities to improve and automate licensing, reporting, and entitlement processes
• Assist with customer support queries regarding data feeds or licensing

Who You Are (Must-Haves)

• 2+ years of experience in operations, ideally in market data administration, data licensing, or vendor management within financial services
• Excellent communication and collaboration skills
• Highly organized, able to manage many recurring deadlines across multiple counterparties
• Ability to read and interpret contract and licensing terms
• Strong Excel/Google Sheets skills
• Exceptional attention to detail and accuracy

Who You Might Be (Nice-to-Haves)

• Familiarity with exchange market data policies and usage reporting (e.g., NYSE, Nasdaq, Cboe, OPRA, CTA/UTP)
• Experience with market data inventory and usage reporting tools
• SQL or scripting experience to help automate reporting
• Experience or understanding of financial markets
• Experience working in a fast-paced environment and able to self-manage
• Comfortable working remotely

How We Take Care of You

• Competitive salary and stock options
• Health benefits
• New hire home-office setup: one-time USD $500
• Monthly stipend: USD $150 per month via a Brex Card

Alpaca is proud to be an equal opportunity workplace dedicated to pursuing and hiring a diverse workforce.