Rates Trading Assistant (m|f|x) Budapest

At Morgan Stanley, we raise, manage, and allocate capital for our clients—helping them achieve their goals. We do it in a way that sets us apart—and we’ve been doing so 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 stage of their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There are also ample opportunities to advance within the company for those who demonstrate passion and determination in their work.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management, and wealth management services. The firm’s employees serve clients worldwide—including corporations, governments, and individuals—from more than 1,200 offices in 43 countries.

As a market leader, the talent and passion of our people are critical to our success. Together, we share a common set of values rooted in integrity, excellence, and a strong team ethic. Morgan Stanley provides a superior foundation for building a professional career—a place where people can learn, achieve, and grow. A philosophy that balances personal lifestyles, perspectives, and needs is an important part of our culture.

The Fixed Income Division comprises Interest Rate, Currency Products, Commodities, Credit Products, and Distribution. Professionals in the Division assess and actively manage risk, trade securities, derivatives, lending, and repo products, and structure and execute innovative transactions in the fast-paced and constantly changing global markets.

As part of the Fixed Income Division, the Trading Assistant is responsible for working with and supporting the Client Financing Trading desk from Budapest. The Trading Assistant provides high-quality front-office support to the Rates Trading and Client Financing desks across cash securities, interest-rate derivatives, repo and reverse repo, securities lending, and related financing products.

Tasks

• Provide day-to-day support to traders across relevant cash and derivative products, including government securities, bond-related derivatives, total return swaps, repo, and reverse repo.
• Manage daily financing activities, including reporting, MSIP collateral bookings, identification and returns of overborrowings, DW T0 covers, Fed borrow bookings, stock loan ticket repricing, and fully paid stock loan triparty updates.
• Perform PB re-rates, securities pool adjustments, BR GC repricing, and agency/strip/special swing adjustments, and ensure correct funding rates are applied across GC and special securities positions.
• Monitor positions, shorts, overborrows, special coupon exposures, SOMA positions, and collateral movements; identify exceptions and report significant exposures or funding issues to traders, counterparties, and operations teams
• Produce daily P&L reports, SOMA P&L analysis, flow reporting, OFR/OTR trade reports, auction charts, dealer positioning charts, and other desk analytics to support trading decisions.
• Maintain TRS lifecycle events (resets, expiries, terminations), execute ETF create/redeem processes, perform ETF swings and hedging allocations, and ensure accurate portfolio positioning.
• Coordinate with traders, sales, counterparties, Treasury, Operations, and securities lenders; distribute reports, confirm bookings, and provide regular market and position updates to the desk.

Profile / Your qualification / Your personality

Required

• Bachelor’s degree or equivalent qualification in finance, economics, mathematics, engineering, accounting, business, or a related field.
• Relevant experience in a trading assistant, desk support, trade support, middle office, client financing, or financial markets role.
• Working knowledge of fixed-income and interest-rate products and the trade lifecycle.
• Strong analytical and problem-solving skills, a keen eye for detail, and a disciplined approach to controls.
• Ability to prioritize competing deliverables and perform effectively during periods of market pressure.
• Proficiency in Excel VBA, SQL, Python, or comparable automation tools, and comfort working with complex datasets.
• Availability to work according to New York trading hours.

Preferred

• Experience with government securities, interest-rate derivatives, futures, repo/reverse repo, securities lending, client financing, or TRS.
• Familiarity with trade capture, market data, confirmation, clearing, settlement, position, risk, and P&L systems.
• Experience producing desk reports, auction analytics, inventory reports, or financing analysis.
• Experience supporting global trading desks.

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Location

Lechner Ödön fasor 8, HU-1095 Budapest