Qualified stock brokers designated by size and volumes must meet enhanced governance, risk, infrastructure and cybersecurity obligations. Designation as a qualified stock broker depends on weighted parameters-active client numbers, total client assets, trading volumes, end of day client margin obligations, and proprietary trading volumes-and such designated brokers must meet enhanced obligations beyond regulation 18, including appropriate governance, risk management policy and processes, scalable infrastructure, orderly winding down framework, robust cyber security, and investor services with online complaint redressal.