Three months left: dealers fret over slow start to Simm tests

Banks "still working like mad" in race to implement standard margin model

"We're still working like mad" - time is running out for those not ready for Simm

This is the third in a series of four articles examining the future of the non-cleared swaps market. The first article is available here, the second is here and the fourth is here.

On the corner of Franklin Street and Hudson Street in New York's Tribeca neighbourhood sits Tamarind, an upscale Indian restaurant. It was here – among the rice and the raisins, the white tablecloths and ceiling-high windows – that a group of bankers agreed in 2013 on an idea that is set to become the heart of the bi