2027 Institutional Equities Trading Off-Cycle Internship (Paris)

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.

Placement and Duration

The Morgan Stanley Institutional Equity Trading Off-Cycle Internship Programme in Paris runs for 6 months and students will be assigned to a specific desk – Index Trading or the Exchange Trading Product desk. 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.

Training Program

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.

Roles and Responsibilities

We are recruiting for the following desks;

Index Trading

The Index Trading desk makes markets in options and volatility linked derivatives across a broad range of products: equity indices, dividend indices, volatility indices and ETFs. As market makers, we quote prices to clients at which we will buy and sell products, trying to facilitate client flow whilst capturing the bid/offer spread - selling risk higher than what it was bought for and vice versa.

ETP desk

The Exchange Trading Product desk specializing in trading, market making, and providing liquidity for a wide range of Exchange Traded Products across a broad range of products such as global stocks, equity and commodity indices.

Structuring Desk

Responsible for manufacturing Quantitative Investment Strategies (QIS), Light Exotics Products, Structured Products and complex solutions / transactions, producing content, complex derivatives pricing, client connectivity as well as product design for a wide range of Morgan Stanley customers – Private Banks, Distributors, Hedge Funds and Financial Institutions. Role requires strong quantitative academic background, preferably with a focus on financial mathematics and probability theory as well as good Python programming skills and ability to work with large and various financial datasets. Working closely with the Exotic Trading desk and clients, this is a great opportunity for individuals who are solution orientated and strive on problem solving in a fast-paced environment.

Qualifications/Skills/Requirements

• You are a Master or PHD student in subjects such as Economics, Mathematics, Financial Mathematics, Physics, Engineering, Quantitative Finance or Computer Science or alike
• You will have advance knowledge of Python, SQL, Excel, VBA, R or similar languages is valued
• You will have an understanding of theoretical pricing models and knowledge of market products and their risks
• You have a keen interest in the financial markets, economics, complex market dynamics and have the desire to work in a fast-paced environment
• You will have curiosity and willingness to go beyond the basic textbook models to find trade ideas and arbitrage channels
• You will have an interest in data and how to tackle diverse datasets in innovative ways
• You will have an entrepreneurial mindset and possess practical problem-solving skills with a great attention to detail
• You can analyse and interpret complex information quickly and accurately
• You are an excellent communicator and enjoy collaboration and teamwork
• You must be a current student or have student status and are available to start in 2027 for a 6-month internship

Please only submit a CV and Covering Letter in English as part of your application

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 into your browser.