(a) any pre-settlement CounterpartyExposure arising from any Derivative transaction or SFT outstanding with a CCPe and which has not been rejected by that CCP, provided that the Exposure is fully Collateralised on a daily basis;

(b) any Credit RiskExposure arising from any Derivative transaction, SFT or spot transaction which an Authorised Firm has outstanding with a CCP for which the latter acts as a custodian on the Authorised Firm's behalf, provided that the Exposure is fully Collateralised on a daily basis;

(c) any pre-settlement CounterpartyExposure arising from any Credit Derivative which an Authorised Firm may recognise as eligible credit protection for a Non-Trading BookExposure or another CCR Exposure; and

(d) any pre-settlement CounterpartyExposure arising from any sold credit default swap in the Non-Trading Book, where the credit default swap is treated as credit protection sold by the Authorised Firm.