--- title: ‘Major changes’ required to improve water trading in the Murray-Darling Basin description: Major changes are needed to create open, fair and efficient water trading in the Murray-Darling Basin, the ACCC has found. --- [![Indigo by AWA logo](https://www.awa.asn.au/hs-fs/hubfs/AWA-Website/Logos/Indigo_colour.png?height=24&name=Indigo_colour.png)](https://indigo.awa.asn.au/) [![Ozwater logo](https://www.awa.asn.au/hs-fs/hubfs/AWA-Website/Logos/Ozwater.png?height=24&name=Ozwater.png)](https://www.ozwater.org/) [![Careers in Water logo](https://www.awa.asn.au/hs-fs/hubfs/AWA-Website/Logos/Careers%20in%20Water_colour.png?height=24&name=Careers%20in%20Water_colour.png)](https://www.careersinwater.com.au/) [![NWW logo](https://www.awa.asn.au/hs-fs/hubfs/AWA-Website/Logos/NWW.png?height=24&name=NWW.png)](https://www.nationalwaterweek.org/) - [Join ![user icon](https://www.awa.asn.au/hubfs/website-assets-2021/icons/awa-nav-user-icon.svg "user icon")](https://www.awa.asn.au/new-registration) - 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[ Upcoming Events ](https://www.awa.asn.au/upcoming-events) - [ Events Calendar ](https://www.awa.asn.au/national-events-calendar) - [ Ozwater ](https://www.awa.asn.au/events/ozwater) - [ Photo Gallery ](https://www.flickr.com/photos/133291504@N03/albums) - [ Awards ](https://www.awa.asn.au/awards) Show submenu for Awards ![Plus icon](https://www.awa.asn.au/hubfs/website-assets-2021/icons/awa-menu-plus-icon.svg) ![Plus icon](https://www.awa.asn.au/hubfs/website-assets-2021/icons/awa-menu-minus-icon.svg) - [ Awards Overview ](https://www.awa.asn.au/awards) - [ Individual Awards ](https://www.awa.asn.au/awards-individual) - [ Chris Davis AM Fellowship ](https://www.awa.asn.au/chris-davis-am-fellowship) - [ Guy Parker Award ](https://www.awa.asn.au/guy-parker-award) - [ Organisation Awards ](https://www.awa.asn.au/awards-organisation) - [ Student Awards ](https://www.awa.asn.au/student-awards) - [ Australian Stockholm Junior Water Prize ](https://www.awa.asn.au/awards/student-awards/asjwp) - 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In basic terms, there is overly fragmented or complex regulation in some areas, not enough regulation in others, and a concerning lack of regulatory oversight and robust enforcement in important areas.” Keogh said these issues had impaired the market’s ability function as effectively as it could.  “This has led to a [lack of trust in the markets](https://ozwater.org/Watersource/environment/natural-environment/act-to-investigate-water-trading-in-aid-of-mdba-recovery-target/) among many water users and has undoubtedly reduced the benefits generated by those markets,” he said.  “These problems exacerbate distrust when water is scarce or when demand is increasing. They make a difficult situation worse.” The ACCC has identified problems in several key areas, particularly governance arrangements, which Keogh said operate in a fragmented system, with roles and responsibilities overlapping in some areas, while leaving significant gaps in others. “The Basin’s water markets, and the bodies that oversee and interact with them, operate in a complex, fragmented and inconsistent system,” Keogh said. “To make real and lasting improvements, we need to rethink how these water markets are governed.” ## Insufficient oversight The ACCC also found there is insufficient regulatory oversight for some participants, including brokers and investors. The report suggests [implementing a licensing scheme](https://ozwater.org/Watersource/technology/trends/could-a-central-system-improve-the-transparency-of-water-markets/) and appointing a single regulator to oversee trade in Basin markets, similar to arrangements in place in the financial services or energy markets. This lack of transparency in the markets is also an issue for water users, the report states, with varied record-keeping methods and trade processes resulting in participants not getting a full, timely or accurate picture of water trading.  And information that is crucial to the decision-making of irrigators and traders is not always well communicated or easy for users to access. Market transparency could be boosted through practical measures, such as the use of standardised identifiers across the Basin, similar to ABNs. Keogh said it was clear that the Basin’s markets need decisive and comprehensive reform. “There are many problems, but we do not believe that dismantling existing water markets is the answer,” he said.  “This would mean farmers, communities and the Australian economy would miss out on the substantial benefits these markets provide. “The Murray-Darling Basin’s water is a precious and often scarce resource. Water trading has the potential to ensure this resource is used to its greatest benefit, particularly for irrigators, but this can only happen if markets are efficient and fair and are underpinned by an environmentally healthy river system.” [ Murray-Darling Basin ](https://www.awa.asn.au/resources/latest-news/tag/murray-darling-basin) [ Australian Competition and Consumer Commission (AC ](https://www.awa.asn.au/resources/latest-news/tag/australian-competition-and-consumer-commission-acc) [ Water Trading ](https://www.awa.asn.au/resources/latest-news/tag/water-trading) [ Natural Environment ](https://www.awa.asn.au/resources/latest-news/tag/natural-environment) [ Irrigation ](https://www.awa.asn.au/resources/latest-news/tag/irrigation) [ Water Market ](https://www.awa.asn.au/resources/latest-news/tag/water-market) Share [![email icon](https://www.awa.asn.au/hubfs/website-assets-2021/icons/icon-dark-sandstone-email.svg "email icon") ](mailto:?subject=‘Major%20changes’%20required%20to%20improve%20water%20trading%20in%20the%20Murray-Darling%20Basin&body=Check%20out%20https://www.awa.asn.au/resources/latest-news/environment/natural-environment/major-changes-required-to-improve-water-trading-in-the-murray-darling-basin) [![facebook-icon](https://www.awa.asn.au/hubfs/website-assets-2021/icons/icon-dark-sandstone-facebook.svg "facebook icon") ](https://www.facebook.com/sharer/sharer.php?u=https://www.awa.asn.au/resources/latest-news/environment/natural-environment/major-changes-required-to-improve-water-trading-in-the-murray-darling-basin) [![LinkedIn icon](https://www.awa.asn.au/hubfs/website-assets-2021/icons/icon-dark-sandstone-linkedin.svg "LinkedIn icon") ](https://www.linkedin.com/shareArticle?mini=true&url=https://www.awa.asn.au/resources/latest-news/environment/natural-environment/major-changes-required-to-improve-water-trading-in-the-murray-darling-basin) [![Twitter icon](https://www.awa.asn.au/hubfs/website-assets-2021/icons/icon-dark-sandstone-twitter.svg "Twitter icon") ](https://twitter.com/home?status=https://www.awa.asn.au/resources/latest-news/environment/natural-environment/major-changes-required-to-improve-water-trading-in-the-murray-darling-basin) ## RELATED NEWS [![](https://www.awa.asn.au/hs-fs/hubfs/Murray-Darling%20Basin.jpg?width=352&name=Murray-Darling%20Basin.jpg) ](https://www.awa.asn.au/resources/latest-news/new-bill-introduced-to-help-meet-the-murray-darling-basin-plan) ### [ New Bill introduced to help meet the Murray-Darling Basin Plan ](https://www.awa.asn.au/resources/latest-news/new-bill-introduced-to-help-meet-the-murray-darling-basin-plan) Water Source On 6 September, the Minister for the Environment and Water, the Hon Tanya Plibersek MP, introduced the Water Amendment (Restoring… [ Read Full Paper ](https://www.awa.asn.au/resources/latest-news/new-bill-introduced-to-help-meet-the-murray-darling-basin-plan) [![Goulburn-Murray Water and GO.FARM team onsite in Coomboona](https://www.awa.asn.au/hs-fs/hubfs/Goulburn-Murray%20Water%20and%20GO.FARM%20team%20onsite.jpeg?width=352&name=Goulburn-Murray%20Water%20and%20GO.FARM%20team%20onsite.jpeg) ](https://www.awa.asn.au/resources/latest-news/week-in-water-updates-from-across-the-water-community-16-february) ### [ Week in water: updates from across the water community ](https://www.awa.asn.au/resources/latest-news/week-in-water-updates-from-across-the-water-community-16-february) Water Source This week in water, the Murray–Darling Basin Plan enters a critical review phase, new drought resilience data highlights national… [ Read Full Paper ](https://www.awa.asn.au/resources/latest-news/week-in-water-updates-from-across-the-water-community-16-february) ### [ MDBA recommends water-saving initiatives ](https://www.awa.asn.au/resources/latest-news/environment/natural-environment/mdba-recommends-water-saving-initiatives) Water Source The Murray-Darling Basin Authority (MDBA) has recommended a 605GL reduction to the Sustainable Diversion Limits in the southern… [ Read Full Paper ](https://www.awa.asn.au/resources/latest-news/environment/natural-environment/mdba-recommends-water-saving-initiatives) Advertising --- ### Subscribe to our newsletters Sign up to get the latest news and insights from us Advertising --- ![white arrow pointing upwards](https://www.awa.asn.au/hubfs/website-assets-2021/icons/awa-white-arrow-up.svg) Top [![Footer-logo-02](https://www.awa.asn.au/hubfs/Footer-logo-02.svg) ](https://www.awa.asn.au/) The **Australian Water Association** acknowledges the Traditional Custodians across Australia, where we live, work and play, for their deep connection to our precious waters and land. 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