{
    "success": true,
    "data": {
        "type": "ETP",
        "ucits": false,
        "replication_method": "physical",
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "complex_factors": [
            "ETP structure",
            "Potential for loss of capital",
            "No capital protection"
        ],
        "classification": "complex",
        "supporting_data": "The product is an ETP (Exchange Traded Product), which is generally considered more complex than a standard ETF. The KID explicitly states: 'You are about to purchase a product that is not simple and may be difficult to understand.' It also highlights 'no capital protection against market risk' and a risk indicator of 5 out of 7 (medium-high risk). While it aims for 1:1 exposure to Microsoft, the ETP structure itself, coupled with the explicit warning about complexity and potential loss of capital, pushes it towards a 'complex' classification under MiFID II rules. The description of underlying assets being held in a 'Margin Account' and the explanation of how the Issuer's payment obligations are funded by liquidating 'Collateral Assets' also point towards a more intricate structure than a typical physically replicated UCITS ETF."
    }
}