Deutsche Bank is evaluating whether to move a large part of its securities trading business from London to Frankfurt or elsewhere in Europe as it prepares for Britain's exit from the European Union, a source told Reuters on Thursday.

Germany's largest lender is considering creating a booking center for non-UK transactions which are currently reported through London, the person said on condition of anonymity because talks are ongoing and the plans not yet finalised.

Deutsche Bank (DBKGn.DE) will make changes as Brexit negotiations unfold, but the bank is preparing for a worst-case Brexit scenario that could entail a loss of so-called passporting rights between Britain and the EU, the person said.