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15/04/2009

Trade processing times halve with new Victorian lodgement service

Waterfind today announced that it has become the first water broker to link in with the Victorian Government’s new Auto-Lodgement Interface.

The Interface provides a new online method for submitting allocation water trades to the relevant Victorian water authorities, essentially streamlining the delivery of the application.

“We have seen the time taken to process trades between Victorian buyers and sellers drop by up to 50% in some instances” said Waterfind operations manager Dr Mark Siebentritt.

“Waterfind has spent the past 12 months working with the Victorian Water Register team to enable Waterfind’s online trading platform to lodge trades with the Interface over the internet. After two weeks of operation it is having a noticeable impact on processing times.”

The auto-lodgement interface has been in development since early 2008 with the participation of four other brokers, however, Waterfind is the first to be ready to start using the new system.

Siebentritt said “this is an exciting development for the water market, particularly as we come to the end of the season with many growers looking to balance their water accounts or buy water for carryover in as little time as possible.”

“The future of the water market is for quick, online water trading across states and Waterfind believes this is a big step in the right direction” said Siebentritt.

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