Nomura to set up new entity in Frankfurt

Nomura Holdings is applying for a licence to operate a new entity in Frankfurt, as Japan’s largest brokerage gears up for Britain’s exit from the European Union in 2019.

In a statement on Tuesday, Nomura flagged the licence application and said it will be ready to provide uninterrupted service to clients by the time Britain exits the bloc regardless of the final terms of the departure.

It did not give any details on the function of the proposed entity, what form it would take, or on staffing.