Conifer Securities, which provides back- and middle-office solutions to hedge funds, family offices and endowments, has bought Morgan Stanleys outsourced trading business. The platform provides independent trade execution in equities, options and ETFs to Morgan Stanleys prime brokerage hedge fund clients. Conifer has also recently hired UBSs former head of prime brokerage for the Americas, Dick Del Bello, as a senior partner.