What the ACCC does

  • We provide advice on the Basin Plan water trading rules to the Murray–Darling Basin Authority.
  • We enforce the Water Markets Intermediaries Code and trust accounting framework for eligible water markets intermediaries.
  • We also enforce the Competition and Consumer Act 2010, including the Australian Consumer Law. 

What the ACCC can't do

  • We don’t set or enforce the Murray–Darling Basin Plan water trading rules. This is the responsibility of the Minister, on advice of the Murray–Darling Basin Authority, and the Inspector General of Water Compliance.
  • We don’t enforce water trading rules made by state governments.

On this page

About water brokers and exchanges

Water brokers and exchanges are sometimes referred to as water market intermediaries.

They play an important role in the water market bringing buyers and sellers together, reducing search costs and improving information flows.

Water brokers perform a similar function to mortgage brokers. On behalf of their clients, they:

  • investigate trading options
  • arrange the necessary paperwork
  • help obtain regulatory approvals.

Water exchanges are a trading platform. They:

  • match buyers and sellers through an automated process or bulletin board
  • organise and submit the necessary paperwork to trade approval authorities.

Water brokers and exchanges may be subject to the water markets intermediaries code depending on the type of service they provide and whether it is for a fee or commission.

Guidance to help water brokers and water exchanges follow the law

The ACCC has published guidance to assist water brokers, exchanges and other intermediaries subject to the code.

We previously issued guidance to help stakeholders understand how water trading works and how the Competition and Consumer Act 2010, including the Australian Consumer Law, applies to water trading.

Water trading - an overview document cover

Water trading - an overview

This overview sets out the things you should think about when you are looking for a water exchange or water broker and the fair trading laws that protect you when you use their services.

Advising the Murray–Darling Basin Authority

The Murray–Darling Basin Authority is responsible for:

Before the Murray–Darling Basin Authority can amend the Basin Plan water trading rules, it must get advice from the ACCC.

See Water trading rules: advice development.

A role in regulating other water market conduct

Phase 1 of the mandatory water markets intermediaries code starts on 1 July 2025, and phase 2 commences on 1 October 2025.

The Australian Government also plans to legislate other new functions for the ACCC as the water market conduct regulator in the Murray-Darling Basin.

The new functions were recommended by the water market reform roadmap which responded to the ACCC’s water markets inquiry.

The new functions will include basin wide laws that address harmful market conduct, including through:

  • bans on market manipulation
  • stronger insider trading rules.

See also

Water charge rules

Water market rules

Water regulation and monitoring