On 23 May, Waterfind was presented with the Water Industry Alliance Smart Leadership Award for its recently launched Waterfind Forward Water Market.
The Waterfind Forward Water Market is the only one of its kind in the world, and provides Australian irrigators with an important competitive edge and underpins future water security and crop production.
The launch of the Forward Water Market was made possible by regulatory changes announced in March 2014 by Minister Simon Birmingham. These changes provided the legal basis to conduct forward water trades and ensure that no one conducting these trades is in breach of the Corporations Act.
Market participants utilising Waterfind’s Forward Water Market are able to forward plan their water requirements while removing uncertainty and decrease risk in the water market.
The Forward Water Market has been embraced by Australian irrigators, who seized the opportunity and started using this mechanism to improve planning of their production needs. Since the launch of forward trading in March 2014 there has been substantial demand.
“We believe that the Waterfind Forward Water Market revolutionises water trading. We understand that security of markets and settlements is a core issue for water market participants. Transfers through Waterfind’s Forward Water Market are conducted through Australia’s only quality assured online water exchange which utilises independently audited trust accounts, standardised contracts and best in practice settlement procedures,” stated Waterfind CEO Tom Rooney.