How SEBI wants to make your phone one of the most important device to do stock trading

SEBI, the nation’s market regulator, plans to make your cell phone the main gateway for stock market transactions, proposing a system that might bind trading accounts to particular SIM playing cards and units.
The Securities and Exchange Board of India (SEBI) on Tuesday unveiled a session paper suggesting a “One UCC-One Device-One SIM” mechanism, comparable to UPI cost functions, which might enable buyers to commerce solely by their registered cell units and SIM playing cards.
Under the proposed framework, merchants would wish to hyperlink their Unique Client Code (UCC) with their cell device’s IMEI quantity and registered SIM card. Login makes an attempt would require biometric authentication on the main SIM-bound device, including an additional layer of safety in opposition to unauthorized entry.
For these trading by desktops or laptops, SEBI has proposed implementing a time-sensitive and proximity-based QR code authentication system, comparable to social media platform logins. The regulator has additionally deliberate for contingencies, together with a backup system for buyers who lose or change their units.
The proposed measures come as trading platforms face rising threats from hacking, identification theft, and frauds due to insufficient technological controls. The implementation would start with the prime 10 Qualified Stock Brokers and initially be optionally available for buyers earlier than turning into obligatory in phases.
To accommodate conventional trading strategies, SEBI has urged that call-and-trade amenities would solely be allowed by centralized devoted phone numbers and e mail addresses of stockbrokers.
The regulator is searching for public feedback on these proposals till March 11, 2025.