There are three categories of EMTA membership:
Full Members are market participants that actively trade or invest in Emerging Markets instruments. Full Members receive all EMTA information and documentation, have full voting rights, are eligible for election to EMTA's Board of Directors, and have unlimited opportunity to participate in EMTA Working Groups and to interact with EMTA's staff in New York City and London.
Annual Dues: Sell-Side: $35,000 Buy-Side: $12,500, $7,500*
Associate Members are market participants that trade or invest in Emerging Markets instruments, or which provide such trading services, but which are smaller and less active than Full Members. Like Full Members, Associate Members receive all EMTA information and documentation and may participate in Working Groups and discuss Emerging Markets issues with EMTA staff. However, Associate Members have reduced voting privileges and are not eligible to sit on EMTA's Board of Directors.
Annual Dues $17,500
Affiliate Members are firms that have a strong interest in the Emerging Markets trading and investment industry (such as advisors, law firms, accounting firms, vendors, rating agencies, data providers and consulting firms), but which do not themselves trade or invest in, nor provide a trading platform for Emerging Markets instruments. Affiliate Members receive EMTA information and documentation. However, Affiliate Members have no voting rights and are not eligible to sit on EMTA’s Board of Directors.
Annual Dues $6,000
All Members are entitled to receive a confidential Member log-in and password to access the Members-Only areas of the website, and are invited to all EMTA Open Meetings and special events. Attendance is complimentary for Members to a number of its annual events, including EMTA’s Annual Meeting, Spring and Fall Forums in New York, its Summer and Winter Forums in London, etc. A nominal fee is charged for Special Seminars offered on a variety of topics.
As a condition of Membership, Members agree to certain restrictions regarding the use of the Member log-in and password for Members-Only website access.
All Members are expected to comply with the Code of Conduct, and Members who trade or invest in Emerging Markets instruments are requested to participate in EMTA's Annual and Quarterly Debt Trading Volume Surveys. All participating Members receive a complimentary copy of the Volume Surveys as a benefit of membership.
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* EMTA’s Buy-Side Fee structure is based generally upon EM assets under management as follows:
$12,500 $1B or more EM AUM
$ 7,500 Under $1B EM AUM
Voting
Each Full Member is entitled to cast one vote on all matters submitted to a vote of the membership. Each Associate Member is entitled 1/2 a vote on all such matters. Except as may be required by law, Affiliate Members are not entitled to vote. A Full or Associate Member may exercise its vote at meetings through an officer, partner, principal or employee of such Member, or of the affiliate through which the Full or Associate Member conducts its business in trading Emerging Markets Instruments, or by a written proxy. In order to expedite the voting process, voting by written proxy is normally encouraged.
Membership Termination
Any Member may terminate its membership in EMTA at any time by giving notice in writing to the Executive Director. Members are not entitled to a refund or pro-ration of membership dues upon termination of membership. Any Member may be suspended or removed at any time for non-payment of dues, or otherwise by the affirmative vote of two-thirds of the Directors present at any meeting of the Board.