Morgan Stanley to cut 300 trading, credit jobs

NEW YORK, Oct 17 (Reuters) - Morgan Stanley (MS.N) is cutting about 300 jobs in its institutional securities division, mostly in mortgage, fixed-income trading and other businesses hardest hit by the recent market turmoil, a person familiar with the situation said.

About two-thirds of the cuts will take place in the United States, about a third in Europe and a handful in Asia, the source said. Morgan Stanley declined to comment. (Reporting by Joseph A. Giannone)