Started from commitment to increase liquidity and transparancy in Government Bond (SUN) market, on April 2002 SUN Work Group is established which consist of Bank of Indonesia (BI), Capital Market Supervisory Board (BAPEPAM), State Bond Management Center (PMON) dan PT Bursa Efek Surabaya (BES). Within those series of meeting, the Work Group recommend establishment of Inter Dealer Market.
Upon completing selection process with particular qualification, the Work Group chose 15 (fifteen) banks with equal risk profiles. The chosen banks are expected to be pioneer in development of bond market. They consequently become benchmark for other market participants in forming fair and transparent price.
Foundation of IDM Establishment Team was signed through Mutual Agreement of 15 Banks on Agustus 21, 2002 witnessed by BI, BAPEPAM, PMON and BES. Furthermore, the founding team preparing the establishment “Perhimpunan Pedagang Surat Utang”. Based on approval by the Minister of Justice and Human Rights of the Republic of Indonesia No. C-116-HT.01-03. Th 2003 dated March 18, 2003, Perhimpunan Pedagang Surat Utang (HIMDASUN) is officially formed as association whose business activities are as Government Bond Operator.