{
    "success": true,
    "data": {
        "leverage": true,
        "derivatives": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthetic",
        "ucits": false,
        "type": "ETP",
        "complex_factors": [
            "Leverage",
            "Synthetic Replication",
            "Compounding Effect",
            "High Risk Profile"
        ],
        "classification": "complex",
        "supporting_data": "The product is classified as complex due to its 3x leveraged exposure to the KraneShares CSI China Internet ETF. This leverage amplifies both gains and losses, and the 'Compounding Effect' described in the KID highlights how daily rebalancing can lead to returns that differ significantly from the 3x daily performance over longer holding periods. The product also explicitly states 'no capital protection' and is classified as 'class 7 out of 7' on the risk indicator, indicating a very high risk level. The use of derivatives is inherent in achieving this leveraged exposure, making it complex. The KID also includes a comprehension alert: 'You are about to purchase a product that is not simple and may be difficult to understand.' Although not a UCITS, the underlying structure and objective of providing leveraged, daily reset exposure inherently make it complex under MiFID II principles.  The referenced ESMA guidelines (specifically CESR/09-295) and MiFID II Delegated Regulation (Article 57) emphasize that products with complex structures, including those involving leverage and derivatives that are integral to the strategy, are generally considered complex, especially if they are difficult for retail investors to understand. The leveraged nature and compounding effect clearly indicate a structure that requires advanced understanding."
    }
}