Derivatives Trading

Morgan Stanley•New York, NY

4d•$150,000 - $250,000

About The Position

The Fixed Income Division is comprised of Interest Rate and Currency Products, Credit Products and Distribution. Professionals in the Division assess and actively manage risk, trade securities, and structure as well as execute innovative transactions in the fast-paced and constantly changing global markets. The Commodities Division is a market leader across a broad range of commodities markets, with expertise in areas including client risk management, financing solutions and investor products Sales & Trading. From the largest global institutions to innovative new hedge funds, investors come to Morgan Stanley for sales, trading, and market-making services in almost every type of financial instrument including stocks, bonds, derivatives, foreign exchange, and commodities. Our professionals provide liquidity and content to clients around the world, actively assessing and managing risk, trading securities, and planning and executing transactions in fast-changing markets. As the needs of our clients become increasingly complex, we often develop customized solutions. Morgan Stanley’s Securitized Products Group (SPG) contains several Trading Businesses (Agency MBS, residential mortgage loans, RMBS, CMBS, CLOs, and other ABS), a lending arm that focuses on traditional Commercial Real Estate as well as Warehouse (FID Secured Lending “FSL”), and a CUSIP financing business. This is a complex and growing portfolio of businesses within Morgan Stanley that serve a wide range of clients to execute on their business strategies. The SPG Trading team is looking for an experienced Associate to VP to join the Collateralized Mortgage Obligation (CMO) / Agency Derivatives (IO/IIO) desk.

Requirements

Strong quantitative, analytical and interpersonal skills
Proactive worker with the ability to work as part of a close-knit team as well as independently
High level of initiative, motivation, attention to detail, positive attitude, and the ability to work in a fast paced environment
Minimum education qualification is a Bachelor's degree

Nice To Haves

Experience structuring or trading CMOs is preferred

Responsibilities

Price, hedge, evaluate, manage book, and engage with clients as an MBS CMO/derivatives trader and market maker
Assess relative value across agency specified pool, CMO and derivatives market
Formulate, express and execute trade ideas within rates, vol and mortgages, in products including but not limited to: treasury futures and futures options, swaps and swaptions, mortgage TBAs and TBA options
Interact with diverse client base to provide liquidity as a market maker and build firm relationships
Assist desk with PnL reporting, compiling market color, indications, and weekly commentary
Maintain frequent dialogue with teams internally including but not limited to: IT, strats, sales, trading desks, research, operations, and finance