{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETC",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": "The ETC aims to replicate the Bloomberg Commodity Euro Hedged Daily Total Return Index which uses futures contracts.  The replication is synthetic, relying on futures contracts on commodities which is inherently complex, especially due to the 'rolling' of futures contracts, and counterparty risk from swap providers. The product is also daily hedged.",
        "classification": "complex",
        "supporting_data": "The WisdomTree Broad Commodities - EUR Daily Hedged ETC is classified as complex due to its synthetic replication of an index that tracks commodity futures contracts. This inherently involves derivative instruments (futures contracts), introducing counterparty risk and the need to understand complex concepts such as the futures markets' roll costs and the impact of hedging. The 'You are about to purchase a product that is not simple and may be difficult to understand' warning confirms this classification. The fact that the product aims to deliver a total return on the index, which will include derivative usage through hedging and the embedded exposure to commodity future markets, which are prone to roll costs further cements the complex classification as it would require a level of client knowledge outside the norm, especially for clients that need to understand the impact of contango and backwardation."
    }
}