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Pyxis Capital, formerly known as Highland Funds Asset Management, L.P., has broken away from its parent, Highland Capital Management, L.P., and taken on a new moniker and a new approach to creating alternative mutual funds.

Jackson National Life Insurance Company, a purveyor of variable annuities, is looking to offer its advisors and their retail clients access to alternative investments.

Russell Investments has introduced a series of indexes designed to allow fund managers to control volatility in their portfolios.

A new investment management shop has opened in Palm Beach, Fla., dubbed Crest Investment Partners LLC. The partnership is a subsidiary of Cypress Capital Group, itself a $830 million boutique trust and investment services firm.

Nasdaq OMX and risk analytics developer Axioma have launched a family of indexes that will give investors exposure to commodity spot prices, through the use of stocks.

Investment Technology Group said it released an algorithm that will capture matching orders in the opening auctions of the New York Stock Exchange and Nasdaq Stock Market.

Goldman Sachs said it expanded its suite of algorithms for electronic trading in Brazil, as a part of a “firm-wide focus’’ on the South America market.

At the Bank Insurance & Securities Association annual meeting, the organization announced its decision to work with financial association and research firm LIMRA to provide more detailed benchmark data on bank investment programs than what is now available elsewhere.

IFP reports dramatic increases in revenue, financial advisors joining the firm’s network and client AUM.

Bradley Fisher will be taking over as managing director and leader of the Family Office Advisory Practice.