{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETP",
        "leverage": true,
        "derivatives": true,
        "swaps": true,
        "inverse": true,
        "replication_method": "synthetic",
        "complex": "complex",
        "complex_factors": "Leverage through daily reset of 3x short exposure. Reliance on swaps with Natixis as counterparty. Rolling of positions introduces roll costs. The Product seeks to replicate the performance of the Solactive Daily Leveraged 3x Short Rolls-Royce Holdings plc Index.",
        "supporting_data": "This Exchange Traded Product (ETP) uses a synthetic replication method to achieve its investment objective. It relies on a swap agreement with Natixis, the Swap Provider, to replicate the performance of the Solactive Daily Leveraged 3x Short Rolls-Royce Holdings plc Index. This index provides a total return exposure to -3 times the daily performance of Rolls-Royce Holdings plc. The ETP's structure involves a daily reset of the leverage factor, leading to a compounding effect that can significantly deviate from the underlying asset's performance over longer periods. This daily reset creates complexity and risks, including those associated with the swap counterparty (Natixis) and the daily rebalancing requirements. Additionally, the recommended holding period is one day, indicating that the compounding effect and the underlying volatility of the index can make longer-term returns unpredictable. The ETP's high risk rating (7/7) in the KID further underscores its complexity and the potential for significant losses. The ETP is not a UCITS compliant product, making it more complex for retail investors as it does not fall under the UCITS umbrella of investor protection. The Key Investor Information Document (KIID) states 'You are about to purchase a product that is not simple and may be difficult to understand', per the MiFID II comprehension alert requirement.",
        "classification": "complex"
    }
}