{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETP",
        "leverage": true,
        "derivatives": true,
        "swaps": true,
        "inverse": true,
        "replication_method": "synthethic",
        "complex_factors": "The GraniteShares 3x Short Facebook Daily ETP seeks to replicate the -3 times the daily performance of Meta Platforms Inc (the u201cUnderlying Assetu201d) which provides total return exposure. It uses total return swaps to replicate the index.",
        "classification": "complex",
        "supporting_data": "The product description explicitly states it uses swaps to achieve a 3x short exposure. This immediately triggers a complex classification under MiFID II. The use of leverage (3x short) through derivatives amplifies the risk profile, making it difficult for a retail investor to understand the risks involved. The daily reset of the leverage factor and the potential for significant deviation from the expected returns over periods longer than a day further contribute to the product's complexity. The Key Information Document (KID) states the product is not simple and may be difficult to understand, and is classified as 7/7 on the risk scale."
    }
}