{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETP",
        "leverage": true,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": "Leverage (3x), Derivatives used to achieve its objective, Compounding effect, and intended for sophisticated investors only.",
        "classification": "complex",
        "supporting_data": "This Leverage Shares ETP, designed to track the daily performance of Ferrari NV ADR equity security with 3x leverage. It is not a UCITS compliant asset. The KID states clearly the product objective involves derivatives to replicate the index's performance, the ETP uses total return swaps to obtain the required leverage, and this introduces opacity and counterparty risk, all of which are difficult for retail investors to understand. The product's structure involves leverage, compounding effects and targets sophisticated investors, compounding with the product's daily leverage rebalancing, may have a positive or negative impact on the productu2019s return, but tends to have a negative impact the higher the volatility of the Reference Asset. This structure makes the product complex under MiFID II.  The fact the ETP has a 7/7 risk rating (highest possible) shows the degree of market risk which also supports a complex classification."
    }
}