{
    "success": true,
    "data": {
        "ucits": false,
        "type": "ETP",
        "leverage": true,
        "derivatives": true,
        "swaps": false,
        "inverse": false,
        "replication_method": "synthetic",
        "complex_factors": [
            "Leverage",
            "Synthetic Replication",
            "Compounding Effect",
            "High Risk Rating"
        ],
        "classification": "complex",
        "supporting_data": "The product is classified as an Exchange Traded Product (ETP) and is not a UCITS ETF. It explicitly states its objective is to provide '2 times the value of the daily performance' of Netflix, Inc. equity security, clearly indicating the use of leverage. This leverage is achieved through synthetic replication, as it seeks to track the 'NYSE Leveraged 2xNFLX Index'. The KID also highlights the 'Compounding Effect' which is magnified by leverage and longer holding periods, a concept that can be difficult for retail investors to understand. Furthermore, it is categorized as 'class 7 out of 7' on the risk indicator, signifying the highest risk class. The intended retail investor profile specifies 'sophisticated investors' who understand 'the risk of compounded returns and the increased risk in leveraged products', and have a 'very short investment horizon'. All these factors, particularly the leverage, synthetic replication, compounding effect, and the explicit targeting of sophisticated investors, lead to a classification as complex under MiFID II."
    }
}