In a Unified Trading Platform , the client signs up on the UTP offered by the stock exchange, similar to logging on to an e-commerce platform. He then completes e-KYC using PAN, Aadhaar, Bank account details, etc. (IPV can be done by the KRA).
The client can choose any broker, like one chooses a seller on an e-commerce platform. Brokers shall compete on the platform in terms of brokerages and other services offered to the client.
The brokers may offer differentiated brokerages to different clients, depending on the client's order size, security being traded, etc. This would ensure competition and fair play in the broking industry, and would bring the brokerages down.

Small and one time investors can place orders by paying cash, same as they would do on an e-commerce platform.
Traders can maintain collateral directly with the CC - Eliminates risk of misuse of client funds and securities.
Platforms such as MFU can also be integrated with UTP. All AMCs may be advised to market their products on UTP.