Operations Analyst - 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 our subsidiaries, Alpaca is a licensed financial services company serving hundreds of financial institutions across 40 countries with institutional-grade APIs. This includes broker-dealers, investment advisors, wealth managers, hedge funds, and crypto exchanges, totaling over 10 million brokerage accounts.

Backed by $400 million in funding from top-tier global investors including Portage Ventures, Spark Capital, Tribe Capital, Social Leverage, Horizons Ventures, and Y Combinator, our team consists of 400+ globally distributed members working remotely around the world.

About the 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 us compliant with all data sources while delivering market data to millions of users.

After successful and rapid growth with our Trading API and Broker API, Alpaca is building out our market data product. You’ll work closely with data sources and broker/partner customers, as well as internal teams across market data, sales, legal, finance, and engineering.

Key Responsibilities

• Manage new data licenses and renewals with all data sources, including exchange groups and other data providers.
• Track license terms, renewal dates, and obligations to ensure 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 our data, maintaining current evidence of distribution licensing and authorization.
• 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.

Qualifications

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 and able to manage 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.

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.
• Understanding of financial markets.
• Experience working in a fast-paced, remote environment.

Benefits & Perks

• 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