# 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), Article 18: Efficiency and effectiveness

Extent: E+W+S+N.I.

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.

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Source: https://www.legislation.gov.uk/eur/2014/795/article/18 (the official version)
Page: https://openlegislation.uk/eu-regulation-2014-795/article-18
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.