{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETC",
        "leverage": false,
        "derivates": true,
        "swaps": false,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": "The ETC provides exposure to Brent Crude Oil futures contracts and will be affected by the effect of rolling futures contracts, and also because it is linked to an index.",
        "classification": "complex",
        "supporting_data": "This ETC is designed to provide exposure to Brent Crude Oil futures contracts, as the Key Information Document (KID) states that the ETC will fall or rise in value based on the underlying index. The fact that the value of the ETC is tied to an index of future contracts is in effect a derivative. The KID specifically states that the performance will be affected by the effect of rolling of futures contracts. The KID explicitly states 'You are about to purchase a product that is not simple and may be difficult to understand.'. Furthermore, it is an ETC and as such the document shows it is not easily understood.The ESMA guidelines, as well as the regulatory documents, indicate that a product tied to an index and which references or embeds a derivative should be considered complex. This determination is not based on the risk level as noted in the KID. In addition, the product itself is not suitable for investors who seek to preserve capital. The fund is not meant for basic investors without prior experience and the index has risk, specifically related to the timing and magnitude of the changes."
    }
}