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 quarterly to review EMTA projects, activities and finances. Board meetings are generally held in New York with a video-link to London.
The size of EMTA's Board is determined from time to time by Board resolution. Currently, the maximum number of Directors is fixed at 23. 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 by a Nominating Committee of the Board each November (based upon, among other things, the composition of EMTA's Membership, a Member's degree of participation in EMTA's activities, the size and line of a Member's business and the seniority and general reputation of the prospective Director) and are voted upon at 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, the Board of Directors also subsidizes the cost of EMTA's activities.
EMTA's Board of Directors is led by its Chair or 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.