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Independent News For The Australian Public Service
Edition Number 404. Updated Tuesday, 08 April 2014

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Better information flow for water traders

The Murray-Darling Basin Authority has published guidelines to explain new water trading rules due to take effect in July.

Spokesman for the Murray-Darling Basin Authority, David Galeano said the new rules would give everyone who traded in the Basin much better access to market information.

Mr Galeano said using the water market had been standard business in the Basin for many years now, but trading activity in the Basin had been complicated by a lack of transparency in the water market.

New guide to Basin trading rules

"The new rules coming in on July 1 as part of the Murray-Darling Basin Plan will improve the way people can operate within the water market," he said.

Mr Galeano said the most important change for individuals trading water would be the new requirement to declare their sale price, while most changes applied to Basin Governments and irrigation companies.

"Governments will now have to explain the characteristics of the different types of water entitlements so people wanting to trade have a better understanding of what they're buying," he said.

"The MDBA will publish all of the States' water trading rules in a central location to make them easier to find."

Mr Galeano said from July, Governments would only be able to restrict trade where the restriction met certain criteria under the new rules.

He said State Agencies would also need to ensure that their water announcements were publicly available.

"This will mean increased transparency - buyers and sellers will have more information on the true value of water in the market," Mr Galeano said.

The guidelines explaining the rule changes are now available at this PS News link.

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