The firm is planning to move its European headquarters from the UK to Frankfurt.

The German financial regulator BaFin has granted a securities trading license to Asian firm Nomura for its new Frankfurt-based entity.

This publication reported last year that Nomura was planning to move its European headquarters to Frankfurt in a bid to combat Britain’s exit from the European Union.

Nomura Financial Products Europe GmbH has announced that it will serve all current client and counterparty relationships, and access to Nomura products and services will continue without disruption after the UK leaves the EU.

The UK's decision to leave the bloc has prompted several European cities to put themselves forward to grab elements of the UK’s financial services operation, while claims and counter-claims swirl about whether Brexit will be a net harm to the financial services sector. Firms have talked about moving their European headquarters to Dublin, Frankfurt and Paris, such as the case of Legal and General Investment Management, which has actually taken the step, as reported by this publication.