EMTA's overall policies and priorities are set and reviewed by a Board of Directors, which is composed of leaders in the Emerging Markets trading and investment community from major market participants (including both dealers and buy-side firms). The Board meets from time to time to review EMTA projects, activities and finances. Board meetings are held most often by telephone or video conference.
The size of EMTA's Board is determined from time to time by Board resolution. Currently, the maximum number of Directors is fixed at 26. Each Director's term is set at two years, and the Board is divided into two groups of Directors, for purposes of staggering Board turnover. Accordingly, the terms of approximately one-half of the Directors expire in alternating years.
Directors are normally nominated each November (based upon, among other things, the composition of EMTA's Membership and of the Board, geographic and business diversity and willingness to contribute time, personnel and other resources to EMTA's activities) and are voted upon in connection with EMTA's Annual Meeting in December. Between Annual Meetings, Director vacancies may be filled by the Board by means of an affirmative vote of at least two-thirds of the whole Board.
Directors are expected to attend Board meetings regularly, to be available for consultation between Board meetings and to contribute resources (such as experienced personnel to participate in EMTA Working Groups and on projects). Through annual Board assessments, Board of Firms also subsidize the cost of EMTA's activities.
EMTA's Board of Directors is led by its Co-Chairs, who meet from time to time with EMTA’s Executive Director to provide policy guidance between Board meetings. EMTA also has an Executive Committee (composed of several Vice-Chairs in addition to the Co-Chairs), which is consulted from time to time on significant policy questions.