Associate, Trading

Morgan Stanley; New York (NY); On-site; USD 175,000 - 200,000; Full time

Job summary

Morgan Stanley is seeking an Associate, Trading in New York, NY to manage institutional client flow on delta-one ETFs, swaps, futures, and forwards on major US equity indices. You will devise and monitor automated trading strategies and work closely with quantitative strategists to optimize hedging and pricing.

The role requires a Bachelor's in Finance or related field and 2 years of experience in trading or analyst roles, with strong Python, VBA, and Bloomberg skills.

Qualifications

• Bachelor's degree in Finance, Financial Engineering, or related field.
• Two years of experience in the position offered or as an Analyst, Trading or related occupation.
• Experience with derivatives pricing and valuation including ETFs, swaps, futures, forwards, options, and structured products.
• Understanding of hedging, leverage, financing, dividends and corporate actions and equity market microstructures.
• Forecasting and trading index rebalances using CuBa, Batman, and Carbon.
• Advanced analytical and mathematical skills.
• Dynamic hedging optimization and arbitrage discovery.
• Proficiency with Microsoft Office and VBA Macros.
• Programming, data analysis and modeling using Python.
• Risk management, analysis and portfolio performance attribution using RiskViewer and TraderDesktop.
• Experience with project management and process automation.
• Algorithmic trading strategy design, documentation, parameter analysis, and monitoring.
• Client flow management through IPC turret and Bloomberg.
• Cross-functional collaboration and project management with risk, technology, and operations teams.
• Attention to detail in pricing, execution, and trade reconciliation.
• Demonstrating compliance-awareness and adherence to trading and regulatory guidelines.

Responsibilities

• Manage institutional client flow on delta-one ETFs, swaps, futures, and forwards on major US equity indices.
• Devise and monitor automated trading strategies on delta-one derivatives.
• Identify spread trading opportunities and index arbitrages.
• Work closely with the quantitative strategists for algorithm design.
• Manage risk for client and proprietary trading positions, including monitoring daily exposure and executing portfolio rebalances.
• Develop analytical models and internal tools to evaluate dividend, carry, basis risk, and financing resource optimization.
• Work closely with derivatives sales, cash and future execution desks.
• Lead discussions on product offerings, market developments, and trading strategy.

Skills

Derivatives pricing

Index rebalances

Advanced analytics

Dynamic hedging

Office VBA

Python

Risk tools

Project management

Algorithmic trading

Bloomberg

Cross-functional

Detail-oriented

Regulatory compliance

Education

Bachelor’s in Finance/Financial Engineering/related field

Tools

CuBa

Batman

Carbon

Bloomberg

TraderDesktop

RiskViewer

IPC turret

Microsoft Office

VBA Macros

Python

Job description

Company Profile

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment, and wealth management services. The Firm's employees serve clients worldwide, including corporations, governments, and individuals from more than 1,200 offices in 43 countries.

Company Profile

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment, and wealth management services. The Firm's employees serve clients worldwide, including corporations, governments, and individuals from more than 1,200 offices in 43 countries.

In the Prime Brokerage and Institutional Equity division, we provide our clients around the world with intellectual insights and innovative product solutions and services that help them generate alpha.

What You’ll Do In The Role

Morgan Stanley & Co. LLC is seeking an Associate, Trading in New York, New York to manage institutional client flow on delta-one exchange-traded funds, swaps, futures, and forwards on major US equity indices, ensuring accurate pricing, timely execution and optimal hedging. Devise and monitor automated trading strategies on listed delta-one derivatives. Identify spread trading opportunities and index arbitrages. Work closely with the quantitative strategists for algorithm design. Manage risk for client and proprietary trading positions, including monitoring daily exposure and executing portfolio rebalances. Develop analytical models and internal tools to evaluate dividend, carry, basis risk, and financing resource optimization. Work closely with derivatives sales, cash and future execution desks. Lead discussions on product offerings, market developments, and trading strategy.

What You’ll Bring To The Role

• Requires a Bachelor’s in Finance, Financial Engineering, or a related field of study.
• Requires two (2) years of experience in the position offered or two (2) years of experience as an Analyst, Trading or a related occupation.
• Requires two (2) years of experience with the following skills:
• Evaluating derivatives pricing and valuation including ETFs, swaps, futures, forwards, options, and structured products using fundamental and quantitative inputs;
• Utilizing understanding of financial concepts including hedging, leverage, financing, dividends and corporate actions and equity market microstructures with liquidity, market impact, and order flow dynamics;
• Utilizing understanding of forecasting and trading index rebalances using proprietary tools including CuBa, Batman, and Carbon;
• Conducting advanced analytical and mathematical skills;
• Performing dynamic hedging optimization and arbitrage discovery across fungible products;
• Proficiency with Microsoft Office suite and VBA Macros;
• Programming, data analysis and modeling using Python;
• Conducting risk management, analysis and portfolio performance attribution using RiskViewer and TraderDesktop;
• Experience with project management and process automation;
• Algorithmic trading strategy design, documentation, parameter analysis, and monitoring;
• Performing Client flow management and trade coordination through effective instant communications with sales, clients and brokers using IPC turret and Bloomberg;
• Cross-functional collaboration and project management with risk, technology, and operations teams;
• Attention to detail in pricing, execution, and trade reconciliation; and
• Demonstrating compliance-awareness and adherence to trading and regulatory guidelines.

What You Can Expect From Morgan Stanley

At Morgan Stanley, we raise, manage and allocate capital for our clients - helping them reach their goals. We do it in a way that’s differentiated - and we’ve done that for 90 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do what’s best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work.

To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser.

Expected base pay rates for the role will be between $175,000 and $200,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.

Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.

For more information, please visit: https://www.morganstanley.com/people-opportunities/eeo.