{
    "success": true,
    "data": {
        "type": "ETP",
        "ucits": false,
        "leverage": true,
        "derivatives": true,
        "swaps": true,
        "inverse": false,
        "complex_factors": [
            "Leverage (3x daily)",
            "Compounding effect",
            "High risk rating (Class 7)",
            "Potential loss of entire investment",
            "No capital protection"
        ],
        "classification": "complex",
        "supporting_data": "The ETP Securities are designed to provide 3 times the daily performance of the ExxonMobile Corporation equity security. This inherent leverage and the explicit mention of the 'Compounding Effect' which is magnified by leverage and longer holding periods, automatically classifies it as complex. The product also states 'no capital protection' and has the highest risk indicator (Class 7), meaning poor market conditions are very likely to impact the capacity to pay. The document explicitly includes a comprehension alert: 'You are about to purchase a product that is not simple and may be difficult to understand.' Based on MiFID II Article 254 and Delegated Regulation EU 2017/565 Article 57, leveraged products and products with complex payoff structures that are difficult for retail investors to understand are classified as complex. The use of derivatives for replication is implied by the leveraged structure, and the significant leverage and compounding effect make it inherently complex.  ESMA guidelines and the provided text indicate that leveraged products are generally considered complex. Furthermore, the explicit mention of '3x Long' and the detailed explanation of compounding effects and high risk clearly indicate a complex financial instrument."
    }
}