{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETP",
        "leverage": true,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthetic",
        "complex_factors": [
            "Leverage",
            "2x daily performance target",
            "Compounding effect",
            "Synthetic Replication"
        ],
        "classification": "complex",
        "supporting_data": "The Leverage Shares 2x Long Super Micro Computer (SMCI) ETP is classified as complex due to several factors. Firstly, it employs a 2x leverage strategy, meaning the returns aim to be twice the daily performance of the underlying asset. Secondly, the document states the product 'pursues the Solactive 2xLong SMCI Index' indicating the use of synthetic replication which uses derivatives (swaps) to achieve its investment objective, creating counterparty and collateral risks which can be difficult for retail investors to understand. The 'Compounding Effect' that is noted in the document adds further complexity. The KID highlights the product's risk with a classification of 7/7, this is related to the product's structure and not just the volatility of the underlying assets. In short, the productu2019s design and risk profile necessitate a complex classification under MiFID II."
    }
}