{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETC",
        "leverage": false,
        "derivatives": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex": "complex",
        "complex_factors": "Synthetic replication through swaps, futures contracts. The structure of the underlying index (Bloomberg Commodity Agriculture Subindex 4W Total Return Index) introduces complexity. The product has futures roll costs.",
        "supporting_data": "The WisdomTree Agriculture ETC uses synthetic replication to track the Bloomberg Commodity Agriculture Subindex 4W Total Return Index. This index tracks a basket of agriculture futures contracts. The KID states 'You are about to purchase a product that is not simple and may be difficult to understand.' This confirms that the asset is classified as complex. The use of futures and swaps introduces counterparty and collateral risk and the need to understand roll costs and backwardation/contango effects are all characteristics of a complex asset. The asset therefore cannot satisfy MiFID II's requirements for non-complex instruments under Article 38 of the MiFID II Delegated Regulation.",
        "classification": "complex"
    }
}