diff --git a/gs_quant/api/gs/risk.py b/gs_quant/api/gs/risk.py
index 044d0cc9..808170cf 100644
--- a/gs_quant/api/gs/risk.py
+++ b/gs_quant/api/gs/risk.py
@@ -26,9 +26,10 @@
 from typing import Iterable, Optional, Union
 
 import msgpack
-from opentracing import Span
+from opentracing import Span, Format
 
 from gs_quant.api.risk import RiskApi
+from gs_quant.context_base import nullcontext
 from gs_quant.risk import RiskRequest
 from gs_quant.target.risk import OptimizationRequest
 from gs_quant.tracing import Tracer
@@ -254,13 +255,14 @@ async def handle_websocket():
                 risk_session = cls.get_session()
                 api_version = GsRiskApi.PRICING_API_VERSION or risk_session.api_version
                 ws_url = f'/{api_version}/risk/calculate/results/subscribe'
-                async with risk_session._connect_websocket(ws_url, include_version=False) as ws:
-                    if span:
-                        Tracer.get_instance().scope_manager.activate(span, finish_on_close=False)
-                        with Tracer(f'wss:/{ws_url}') as scope:
+                trace = Tracer(f'wss:/{ws_url}') if span else nullcontext
+                with trace as scope:
+                    tracing_headers = {}
+                    if scope and scope.span:
+                        Tracer.inject(Format.HTTP_HEADERS, tracing_headers)
+                    async with risk_session._connect_websocket(ws_url, tracing_headers, include_version=False) as ws:
+                        if scope and scope.span:
                             scope.span.set_tag('wss.host', ws.request_headers.get('host'))
-                            error = await handle_websocket()
-                    else:
                         error = await handle_websocket()
 
                 attempts = max_attempts
@@ -278,6 +280,9 @@ async def handle_websocket():
 
         if error != '':
             _logger.error(f'Fatal error with websocket: {error}')
+            if span:
+                span.set_tag('error', True)
+                span.log_kv({'event': 'error', 'message': error})
             cls.shutdown_queue_listener(results)
             return error