Which of the following statement is/are TRUE? Select one or more:
a. A positive net exposure position in FX implies an FI has less foreign currency assets than foreign currency liabilities.
b. The FX market is the largest of all financial markets.
c. The reason an FI receives a fee when purchasing foreign currencies that allow customers to complete international transactions is because the FI assumes some FX risk.
d. Spot transactions account for the largest proportion of daily turnover in global foreign exchange markets.