Trade InNanoseconds
Your trading logic, on-chip with the exchange. The most co-located you can get.
Regulated services provided by 1Money USA, Inc., a licensed money transmitter, NMLS ID 2628653 · Licenses
No fees, new rebates, and a faster market.
Trades executed in nanoseconds.
Cash back on every transaction.
No fees, new rebates, and a faster market.
Trades executed in nanoseconds.
Cash back on every transaction.
Co-Location on a chip: trade from the same silicon as the matching engine.
Existing platforms require that orders originate from external servers. PAX delivers zero-distance trading.
This means your orders aren't delayed by network latency when new market data is published; they fire instantly. An order placed through the PAX λ API has a speed advantage over orders placed from external servers.
It's the fastest path from decision to execution in any market, anywhere.
Built for Wall Street and Main Street
Institutions need trusted infrastructure: third-party custody and settlement, plus ultra-low latency matching. Retail traders deserve the same institutional-grade protections without the institutional barriers.
With transparent pricing, no hidden fees, and speed as a service, PAX ensures every trader gets a fair shot at the best execution possible.
Monetizing what matters: we sell speed, not trades.
Most exchanges charge a fee to trade, but give their biggest customers - the market makers - deep discounts on their fees.
At PAX, the majority of our customers trade with zero fees, including ordinary traders who would normally pay the highest fee tier at existing venues. PAX makes money by selling access to its λ API, a feature that is open to every PAX client but primarily of use to market makers.
Realized fee or rebate rate depends on blend of order types. Learn more
Moving the needle with rebates
for taking order flows
Every trade at PAX puts money back in your pocket, while most exchanges charge fees that eat into your profits.
Taking at Binance:
-10 bps fee
Taking at PAX:
+1.5 bps rebate
Net to customer
11.5 bps
Automatic 11.5 bps back to your bottom line.
Work with us on the frontier of exchange technology.
Join our founding team to build the world's first exchange on a chip - a greenfield design where your contributions will form the foundation for a new generation of exchange technology. We value curiosity, passion for markets, and the ability to learn quickly.