问题如下：
Counterparty risks typically arise from the following scenarios, except for:
选项：
A. OTC derivatives
B. exchange-traded derivatives
C. Brokerage relationships: both broker and client
D. Interest rate swap
解释：
答案：B is correct
解析：Counterparty risks通常产生于OTC衍生品的交易，以及Brokerage relationships。所以本题A/B/D三个选项都有可能产生Counterparty risks。只有选项B，Exchange-trade derivatives、交易所交易的衍生品Counterparty risk几乎不存在。
描述里应该是A/C/D，写错了。