Indonesia's repurchase market is jointly managed by Bank Indonesia (BI), the Indonesian Securities Inter-Dealer Association, and the Indonesian Fixed-Income Dealer Association. BI has established provisions for secondary market trading of Sertifikat Bank Indonesia (SBI) notes under repurchase agreements (repo).

The Government launched a repo market in 2004 and a Master Repurchase Agreement (MRA) in 2005. The MRA is the benchmark for repurchase transactions, which are set at the BI rate plus 3% for overnight repurchases.

In January 2009, BI began allowing repo transactions using government bonds denominated in foreign currency.