Select which of the statements below are true (more than one statement may be true or none may be true)

a. A futures contract with a very high open interest has many traders placing bids and asks on it

b. Futures physical settlement occurs when a futures commodity settles/compresses in its shipping container

c. When settling a futures contract it is sufficient to simply take the reverse position (long if short, short if long) at the same expiry date on the same commodity

d. Most futures are settled with cash

e. Financial firms may have to recapitalize even if they only suffer paper losses on their futures positions

f. Clearing houses help alleviate counter-party risk as they can honor future contract settlement if one market participant were to become insolvent