{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "ucits": true,
        "type": "ETC",
        "complex_factors": "The ETC aims to replicate the Bloomberg Commodity Soybeans Subindex 4W Total Return Index by tracking the Bloomberg Soybeans Sub Excess Return Index. It utilizes futures contracts, which are derivatives, to achieve this. The index itself is complex, with roll costs and contango/backwardation effects. Furthermore, the Key Information Document states 'You are about to purchase a product that is not simple and may be difficult to understand.",
        "classification": "complex",
        "supporting_data": "The WisdomTree Soybeans ETC (GB00B15KY542) is classified as 'complex' under MiFID II. The primary reason is the use of derivatives (futures contracts) to replicate the Bloomberg Commodity Soybeans Subindex 4W Total Return Index. The ETC is designed to provide total return exposure to Soybean futures contracts. The replication strategy inherently relies on derivatives, specifically futures contracts, to achieve its investment objective. Also, the index itself is complex. The KID also notes that the product is not simple and may be difficult to understand, which supports the classification. Reference ESMA Guidelines on complex debt instruments and structured deposits dated 4 February 2016 and Q&A1 in relation to appropriateness/complex financial instruments."
    }
}