{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETP",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": "The ETP uses an options-based strategy, specifically selling 'out-of-the-money' call options on Tesla shares and paying returns. This includes derivatives, which introduces complexity and counterparty risk. The underlying assets are held in a margin account with Collateral Assets which could potentially be impacted by market volatility. The ETP is not principal protected.",
        "classification": "complex",
        "supporting_data": "This IncomeShares Tesla (TSLA) Options ETP utilizes a complex strategy based on options trading. The product's objective is to generate monthly income by selling 'out-of-the-money' call options on Tesla shares. The use of options, and derivatives, is core to this strategy, introducing opacity in its risk-return profile. The prospectus warns that this is not a simple product and can be difficult to understand. It is classified as risk class 6/7 reflecting its exposure to market movements. Further, the product's early redemption and scheduled maturity are important factors driving the MiFID II complex asset determination.  Therefore, it is classified as complex."
    }
}