{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "ucits": true,
        "type": "ETC",
        "complex_factors": [
            "Tracks index using futures contracts, involves 'rolling' of futures, introduces counterparty risk and roll costs, contango and backwardation risk",
            "Currency hedging in EUR",
            "Underlying index is complex and the ETC relies on swaps"
        ],
        "classification": "complex",
        "supporting_data": "The WisdomTree Aluminium - EUR Daily Hedged ETC is classified as complex because it provides exposure to Aluminium futures contracts, which necessitates the use of derivatives such as futures contracts. The document states that price changes in the futures contracts referenced in the Benchmark will not necessarily result in correlated changes in the level of the Benchmark or of the Product. This may be due to a number of factors including the effect of 'rolling' of futures contracts. The ETC is designed to replicate the Bloomberg Aluminum Sub Euro Hedged Daily Total Return Index (BUALDET), implying the use of swaps, which are derivative instruments and introduce counterparty risk. The currency hedging component, while not inherently complex, further supports this classification. The intended retail investor has specific knowledge but it is still classified as complex."
    }
}