JPMorgan customer Sydbank A/S has become Denmark's first non-CLS shareholder to settle via CLS Bank.
Sydbank, Denmark's fourth-largest bank, selected JPMorgan as its third party services provider in September 2002.
The Danish Krone is set to join the list of eligible CLS currencies later in the year.
JPMorgan currently claims 20 third party CLS settlement mandates and 220,000 trades settled to date through the bank-backed risk reducing initiative.