{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthetic",
        "complex_factors": [
            "Swaps",
            "Commodity Futures",
            "Exposure to Carbon Futures"
        ],
        "classification": "complex",
        "supporting_data": "The ETF is UCITS compliant but employs a synthetic replication method through total return swaps to track the Solactive Energy Transition Commodity Total Return Index. The index includes commodity futures (transition metals, transition energy, and carbon). The use of swaps introduces counterparty risk. Additionally, the index has carbon allocations achieved via carbon futures (EUA, CCA, RGGI), which adds to the complexity. Also, market trading in commodity futures contracts can be extremely u201cvolatileu201d driving MiFID II complex asset determination such as the complexity of the indices it tracks. As the ETF has derivatives and the synthetic structure relies on swaps this is considered a complex asset."
    }
}