Article 18 Efficiency and effectiveness
United Kingdom
1.
A SIPS operator shall have a process to identify and meet the needs of the markets the SIPS serves, in particular, with regard to:
(a)
choice of a clearing and settlement arrangement;
(b)
operating structure;
(c)
scope of products cleared or settled;
(d)
use of technology and procedures.
2.
A SIPS operator shall have clearly defined goals and objectives that are measurable and achievable, such as in the areas of minimum service levels, risk-management expectations and business priorities.
3.
A SIPS operator shall have established mechanisms for the regular, at least annual, review of the requirements laid down in paragraphs 1 and 2.