{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETP",
        "leverage": true,
        "derivatives": true,
        "swaps": true,
        "inverse": true,
        "replication_method": "synthetic",
        "complex_factors": "Leverage, Synthetic Replication, Embedded Derivatives, Index-Based Risk",
        "classification": "complex",
        "supporting_data": "This ETP uses a 3x short leveraged strategy on Alphabet Inc., replicating the performance of the Solactive Daily Leveraged 3x Short Alphabet Inc Index. This strategy inherently incorporates several factors that classify it as complex under MiFID II: leverage, derivatives (swaps), and the daily compounding effect. The KID explicitly states that the product is not simple and may be difficult to understand. The use of a swap with Natixis introduces counterparty risk, which retail investors may not understand. The daily reset of the leverage factor means that returns over periods longer than one day will deviate from the underlying asset multiplied by the leverage factor, further complicating the understanding of risk and return. The product is classified as 7 out of 7 on the risk scale, indicating the highest risk category, due to its volatility."
    }
}