2027 Institutional Equity Derivatives amp; Trading Co-Op (New York)

About the role

Join Morgan Stanley’s Institutional Equity Division for a six-month, in-person co-op in New York from January through June 2027. Work on a derivatives or trading desk covering equity options, ETFs, volatility, exotic products, quantitative strategies, or related markets, supporting pricing, execution, hedging, market-making, and client solutions.

Role and Desk Options

• Spend approximately six months fully immersed on an Institutional Equity Division desk in New York.
• Derivatives and Trading develops liquidity, products, and trading solutions across equity options, securitized derivatives, and convertible bonds.
• Derivative Sales Trading distributes ideas and research, and prices and executes listed and OTC derivatives for institutional clients.
• Flow Trading covers volatility in equity indices, emerging-market ETFs, macro ETFs, options, and volatility-related products.
• Exotics Trading prices, trades, hedges, and manages risk for bespoke equity-linked derivatives and structured notes.
• ETF Trading market-makes domestic and international ETFs, including futures, leveraged products, carry arbitrage, and thematic strategies.

Application Process

• Applicants rank the listed desks by preference as part of the application.
• Selected candidates undergo desk-specific interviews and may interview for more than one desk.
• Applications are reviewed on a rolling basis, and early applications are encouraged.
• Candidates must submit their resumes through the Morgan Stanley website.