Morgan Stanley
Fixed Income Division - Associate/Vice President, Agency MBS CMO/Derivatives Trading
$150K–$250K
New York, New York · On-site · Director · Full-time · Posted Aug 31, 2026
- Education
- Bachelor's degree minimum.
About the job
Trade and make markets in Agency MBS CMOs and derivatives, managing risk and client relationships while developing and executing trade ideas.
What you'll do
- Price, hedge, evaluate, and manage the trading book; assess relative value across agency specified pools, CMOs, and derivatives.
- Develop and execute trade ideas across rates, volatility, and mortgages, including Treasury futures and options, swaps and swaptions, and mortgage TBAs and TBA options.
- Provide client liquidity and maintain relationships; support P&L reporting and market commentary and coordinate with internal teams.
What they ask for
- Bachelor's degree minimum.
- Strong quantitative, analytical, and interpersonal skills.
- Ability to work independently and as part of a close-knit team.
- Initiative, motivation, attention to detail, a positive attitude, and ability to work in a fast-paced environment.
Nice to have
- Experience structuring or trading CMOs.
Pay
$150,000 and $250,000 per year (USD, base pay)
Tools
Treasury futures, futures options, swaps, swaptions, mortgage TBAs, TBA options
Model-written summary · the original posting is authoritative