{
    "success": true,
    "data": {
        "ucits": false,
        "type": "ETP",
        "leverage": true,
        "derivatives": true,
        "swaps": true,
        "inverse": true,
        "complex_factors": [
            "Leverage",
            "Daily Rebalancing (Compounding Effect)",
            "Short Selling (Inverse Exposure)",
            "Potential for high volatility due to compounding"
        ],
        "replication_method": null,
        "classification": "complex",
        "supporting_data": "The ETP Securities are designed to provide -4 times the daily performance of the NYSE Semiconductor Index. This inherent daily leverage and inverse exposure, combined with the 'Compounding Effect' which is magnified by leverage and volatility, makes the product inherently complex and difficult to understand for retail investors. The KID explicitly states that 'Holding the ETP Securities for more than one day is likely to result in a return which is different to -4 times the return of the Reference Asset over that holding period.' Furthermore, the product is classified as risk class 7 out of 7, indicating very high risk. The stated intended retail investor profile is for 'sophisticated investors' who understand leveraged and inverse products and can afford to risk losing their investment. The presence of leverage, inverse exposure, and the compounding effect all point towards a complex classification under MiFID II. The KID also includes a comprehension alert: 'You are about to purchase a product that is not simple and may be difficult to understand,' which is mandatory for complex products."
    }
}