Institutional Equities Trading Off-Cycle Internship

Job description

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

Since 1935, Morgan Stanley is known as a global leader in financial services, continuously evolving and innovating to better serve our clients and our communities in more than 40 countries around the world.

The Morgan Stanley Institutional Equity Trading Off-Cycle Internship Programme in London runs for 6 to 9 months and students will be assigned to a specific desk – Exotics, Corporates or Structuring. Students will remain on their assigned desk for the duration of the internship, enabling them to build an in-depth understanding of its work, products and responsibilities. The Programme is an opportunity to experience the culture and atmosphere in the Sales & Trading division by taking on some of the responsibilities and functions of a Full-Time Analyst.

As an intern, you will be given full insight into what it takes to be part of a trading desk at Morgan Stanley. You will be responsible for producing analytics as well as ad-hoc reports and leading a diverse set of projects to improve our trading activities.

You will learn about a wide range of derivative products which are being traded with different client types and in different regions. You will join a diverse team and be able to learn about the different product solutions that structuring offers including Quantitative Investment Strategies, Retail Structured Products and Institutional Solutions.

You will be part of a team which will provide you with the opportunity to further your career working alongside top industry professionals.

You will receive on-the-job training and benefit from working alongside experienced professionals on a variety of projects. Throughout the programme, you will develop the analytical, quantitative and interpersonal skills needed to succeed in the role. You will join a diverse and collaborative team comprising experienced industry professionals and graduates from leading universities, all motivated by solving interesting and complex problems. You will also gain exposure to Sales, Trading and Management, while building your network through opportunities to connect with peers and colleagues across the Firm.

We are recruiting for the following desks:

Responsible for managing a complex derivative portfolio of both equity & cross-asset underlying and for providing pricing and liquidity to a wide range of institutional (Hedge Funds, Pension Funds, Insurance Companies etc.) and retail clients (private banks, distributors etc.). There are 3 sub-teams that focus on market making and risk management of products across single stocks, equity indices and cross-assets. As we cover a wide range of products from barrier options, correlation to quantitative investment strategies (QIS), our portfolios are usually sensitive to various greeks (or derivatives) and risks are dynamic requiring continuous hedging and involve different strategies and techniques.

The breadth and depth of the business allows us to offer exciting opportunities to individuals who are interested in problem solving and applying their financial mathematics & quantitative knowledge to real trading scenarios. The daily tasks of an exotic trader include; market making of exotic products in both primary and secondary markets, development of market making / trading tools, interpretation and management of risks at both product and aggregated book levels such as delta, vega, rho, divrho, gamma and cross-gamma, development of quantitative risk analysis tools at product & book levels, hedging /…