{
    "success": true,
    "data": {
        "product_name": "Leverage Shares 3x Alphabet ETP Securities",
        "ucits": false,
        "type": "ETP",
        "leverage": true,
        "derivatives": true,
        "swaps": true,
        "inverse": false,
        "complex_factors": [
            "Leverage (3x)",
            "Compounding Effect",
            "Potential for significant loss",
            "High risk class (7/7)",
            "Daily rebalancing",
            "Sophisticated investors targeted"
        ],
        "classification": "complex",
        "supporting_data": "The product is classified as complex due to its explicit 3x leverage on Alphabet's equity security. This leverage magnifies both gains and losses and introduces a compounding effect which is difficult for retail investors to understand, especially over periods longer than one day. The KID explicitly states that holding the ETP for more than one day is likely to result in a return different from 3x the reference asset's performance due to daily rebalancing. The product is categorized as risk class 7 out of 7, the highest risk class, and is intended for sophisticated investors with a very short investment horizon. These factors, combined with the inherent complexity of leveraged products and the potential for significant loss, strongly indicate a complex classification under MiFID II, as understanding the mechanics and risks requires more than basic financial knowledge. The use of leverage and the daily rebalancing mechanism are integral to its strategy, and as per MiFID II rules, instruments whose structure or risks are opaque or require advanced knowledge to understand are considered complex."
    }
}