{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETC",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex": "complex",
        "complex_factors": "The ETC uses Sugar futures contracts and replicates the Bloomberg Commodity Sugar Subindex 4W Total Return Index (BCOMSB4T).This involves 'rolling' futures contracts, introducing roll costs. The performance is linked to the index using futures contracts via an indirect method. This introduces counterparty risk as well as the potential for contango or backwardation effects within the futures contracts.",
        "supporting_data": "The WisdomTree Sugar ETC tracks the Bloomberg Commodity Sugar Subindex 4W Total Return Index (BCOMSB4T) through exposure to sugar futures contracts. The document states 'You are about to purchase a product that is not simple and may be difficult to understand.' The use of futures contracts introduces derivatives, counterparty risk, the complexities of rolling futures contracts (roll costs) and the potential for contango/backwardation. The structure of the ETC, while aiming for a 1:1 performance replication, involves complex mechanisms and associated risks. The document also highlights currency risk, as it trades in USD but the investor base currency will vary. Also the risks described by ESMA in ESMA35-36-1640 is noted. Given these factors, the ETC is classified as complex under MiFID II.",
        "classification": "complex"
    }
}