Russia’s Moscow Exchange (MICEX-RTS) began trading its shares at the initial public offering price of RUB55 (approximately US$1.82), raising a total of RUB15 billion (approximately US$500 million). The exchange, which will only be listed in Moscow, was backed by the Russian Direct Investment Fund (RDIF), the European Bank for Reconstruction and Development (EBRD), China Investment Corporation (CIC), and private investment firms Cartesian Capital and BlackRock.