MS
Morgan StanleyNew York City, NYInternship
2026 Institutional Equities Quantitative Finance Off-Cycle Internship - Derivatives (New York)
This multi-month off-cycle internship in Institutional Equities Quantitative Finance offers hands-on experience in derivative modeling, risk management, and quantitative analysis within Morgan Stanley's Sales & Trading division.
1
Program Details
- Intensive multi-month off-cycle internship in Institutional Equity Strats.
- Work alongside full-time professionals on impactful quantitative projects.
- Assigned to a single team for the program duration.
- Receive individual coaching and continuous feedback.
- Experience a long-term career perspective at Morgan Stanley.
2
Responsibilities
- Develop data and analytical decision-making tools for sales and trading.
- Conduct analysis and present research ideas to support trading activities.
- Create valuation and risk management systems for derivatives.
- Implement and support models for exotic, corporate, and flow derivatives.
- Automate derivative product flow and pricing methodologies.
3
Derivative Modeling Strat Tasks
- Implement new models and algorithms for derivative valuation.
- Analyze complex trades to determine optimal pricing methods.
- Manage risk of positions in trading books.
- Create tools to increase efficiency in sales and trading.
4
Qualifications
- Pursuing PhD in Financial Engineering, Mathematics, Physics, or related quantitative field.
- Degree completion between December 2026 and June 2027.
- Strong modeling skills; knowledge of equity derivatives models preferred.
- Proficient in object-oriented programming within front office libraries.
- Expertise in Probability, Numerical Analysis, Stochastic Calculus, PDEs, or Approximation Theory.