{
    "success": true,
    "data": {
        "ucits": false,
        "type": "ETP",
        "leverage": true,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": "Leverage, swaps, daily reset compounding effect.",
        "classification": "complex",
        "supporting_data": "This ETP from GraniteShares is designed to provide 3x leveraged exposure to the daily performance of Palantir. The structure is based on a swap agreement with Natixis and is categorized as an Exchange Traded Product (ETP). The KID specifically states that the product is not simple and may be difficult to understand, with a high-risk rating (7/7). The use of leverage (3x) implies an increased risk profile beyond the underlying asset itself. It uses a swap agreement and the daily reset compounding effect means the returns will not reflect a simple 3x calculation over the holding period. This suggests a synthetic replication method. Therefore, this product is classified as complex under MiFID II because of the use of leverage via derivatives and the compounding effect."
    }
}