{
    "success": true,
    "data": {
        "leverage": true,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": null,
        "ucits": false,
        "type": "ETP",
        "complex_factors": [
            "Leverage",
            "Compounding Effect"
        ],
        "classification": "complex",
        "supporting_data": "The product is classified as complex due to its explicit '3x' leverage. The Key Investor Information Document (KID) highlights the 'Compounding Effect', which is a direct consequence of daily rebalancing leveraged products, and states that this effect is magnified by more leverage and longer holding periods, often negatively impacting returns in volatile markets. This feature introduces a level of complexity and risk that is not easily understood by a retail investor without advanced financial knowledge, aligning with MiFID II's criteria for complexity. Furthermore, the product is described as 'Collateralised Exchange Traded Securities' and seeks to track an index that provides '3 times the value of the daily performance of the Uber Technologies, Inc. equity security.' This aggressive leveraged strategy inherently involves risks beyond simple market fluctuations, such as the potential for amplified losses due to daily rebalancing and the impact of compounding, making it difficult for a retail investor with basic knowledge to fully grasp. The KID also explicitly states, 'You are about to purchase a product that is not simple and may be difficult to understand,' and categorizes the product as risk class 7 out of 7, indicating the highest risk. The intended retail investor profile is for 'sophisticated investors' who 'understand the risk of compounded returns and the increased risk of leveraged products,' reinforcing the complex nature of the instrument."
    }
}