{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETC",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": "The ETC uses WTI Crude Oil futures contracts. The index it tracks has daily total return, and uses currency hedging introducing counterparty risk and rolling costs.",
        "classification": "complex",
        "supporting_data": "This ETC tracks an index based on WTI crude oil futures contracts. The use of futures contracts for replication, along with currency hedging in EUR, introduces complexity. The product aims to replicate the Bloomberg WTI Crude Oil Sub Euro Hedged Daily Total Return Index (BUCLDET). This involves understanding futures, currency hedging, and the impact of 'rolling' futures contracts, which are not easily understood by retail investors. As the KID document states, the product is 'not simple and may be difficult to understand.' Rolling costs, contango or backwardation effects relating to the futures contracts are not easily understood and drive the MiFID II complex asset determination. The product is an Exchange Traded Commodity (ETC)."
    }
}