This meeting will consider the broad implications and benefits that can accrue from water markets, including increasing flexibility and options in meeting various social, environmental, and regulatory targets and priorities. The meeting will explore concepts such as water quality trading to reduce pollutants and protect ecosystems, providing instream flows for aquatic systems, groundwater banking to optimize water allocations among different users, learning from other types of commodity markets, and issues related to scale, data availability, transparency, monitoring, and stakeholder involvement.