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. Last Updated: 07/27/2016

IFC to Launch Russian Index

The International Finance Corp., the investment arm of the World Bank, has announced plans to launch a Russian stock index to be included in its series of daily emerging markets indices.

The IFC will add Russia, Egypt and Morocco to its coverage of daily emerging markets and add another 14 countries to its monthly index series, the organization said in a statement released Friday.

"The Russian total market capitalization and value traded year-to-date rank Russia higher than other already established markets in Europe," said Constantinos Grigoriadis, the IFC's market analyst for Central and Eastern Europe.

The IFC Russian Index, with a launch date of Sept. 1, will represent the most liquid and most highly capitalized stocks traded in Russia. Skate financial information agency will provide equity data for the index.

, which will track 25 Russian companies.

The index will join the ranks of the Moscow Times Index of 50 leading shares, created in September 1994 to encourage market transparency, and the Paufor Index, which calculates share price movements of 13 issues actively traded on the Russian Trading System.