<h1>Brokerage launches zero-brokerage integrated trading app with margin trading features, APIs, OTP-free flows; raises SEBI compliance and data-privacy concerns</h1> A registered brokerage has launched an integrated trading app offering zero brokerage across segments, unified order and risk management, MTF features, advanced options tools, APIs and WhatsApp-based reporting. Regulatory considerations include adherence to SEBI norms on brokerage caps, disclosure and client migration procedures, compliance for margin trading and pledge mechanisms, safeguards for OTP-free authentication and data privacy, and obligations for fair order execution and best execution practices. The platform's APIs, third-party integrations and payment/funding mechanics may attract additional compliance, cybersecurity and consumer-protection scrutiny. Public disclosures and risk disclaimers accompany the launch.