The spot transaction is the purchase of foreign exchange with the delivery and payment will take place between banks at a future date. Assume that XYZ company bought Japanese Yen on Tuesday, which of the following will be considered as the correct description of this transaction? 

 Tuesday will be considered as the value date and Thursday will be considered as settlement date 

Tuesday will be considered as the transaction date and Wednesday will be considered as settlement date 

Tuesday will be considered as the trade date as well as the settlement date 

Tuesday will be considered as the trade date and Thursday will be considered as value date