{
    "success": true,
    "data": {
        "leverage": true,
        "derivatives": true,
        "swaps": false,
        "inverse": false,
        "replication_method": null,
        "ucits": false,
        "type": "ETP",
        "complex_factors": [
            "Leverage (3x)",
            "Compounding Effect",
            "High Risk Rating (7/7)",
            "Lack of Capital Protection"
        ],
        "classification": "complex",
        "supporting_data": "The product is classified as complex primarily due to its use of 3x leverage, which magnifies both gains and losses. The KIID explicitly mentions a 'Compounding Effect' which can negatively impact returns, especially in volatile markets, making its performance difficult to predict for a retail investor. It also carries the highest risk rating (7 out of 7) and states there is no capital protection, meaning investors can lose their entire investment. The KIID's 'intended retail investor' profile highlights the need for investors to understand leveraged products and be able to afford to lose their investment, further underscoring its complexity. The product is also described as an 'ETP Securities' and 'Collateralised Exchange Traded Securities', which can imply a more complex structure than a standard ETF. While not explicitly mentioning derivatives, the leveraged nature almost certainly implies their use, or a similar mechanism, to achieve the 3x daily performance, which is a key indicator of complexity under MiFID II."
    }
}