{
  "url": "https://openlegislation.uk/eu-regulation-2014-795/article-18",
  "json_url": "https://openlegislation.uk/eu-regulation-2014-795/article-18.json",
  "legislation": "eur/2014/795",
  "legislation_title": "Regulation of the European Central Bank (EU) No 795/2014 of 3 July 2014 on oversight requirements for systemically important payment systems (ECB/2014/28)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2014-795",
  "path": "article/18",
  "kind": "article",
  "number": "18",
  "heading": "Efficiency and effectiveness",
  "text": "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:\n(a) choice of a clearing and settlement arrangement;\n(b) operating structure;\n(c) scope of products cleared or settled;\n(d) use of technology and procedures.\n2. 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.\n3. A SIPS operator shall have established mechanisms for the regular, at least annual, review of the requirements laid down in paragraphs 1 and 2.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2014/795/article/18",
    "retrieved_at": "2026-11-01T14:47:26.560712+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}