If at first you don’t succeed, try, try, try again. At least, that’s what it must feel like for collateral engineers across the financial industry who attempted to collaborate on a project to solve issues around posting margin for non-cleared derivatives in 2015. Now, at last, two companies claim to have cracked it.

The much-vaunted Project Colin, the existence of which was first revealed by Financial News in February 2015, eventually fell apart in third quarter 2015. But the project's ambitions were sound.