{
    "type": "ETC",
    "ucits": false,
    "replication_method": "synthetic",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "Contingent Convertible Bonds",
        "Complex Indices",
        "Counterparty Risk",
        "Termination Risk"
    ],
    "classification": "complex",
    "supporting_data": "The product is an open-end tracker certificate linked to the UBS CMCI Agriculture USD TR Index, which is a complex commodity index. The use of synthetic replication via swaps and the exposure to counterparty risk from UBS AG, London Branch, are significant complexity indicators. The product also carries termination risk and lacks capital protection, with potential for total loss. The risk indicator is medium (4 out of 7), but the structure and risks involved, including the lack of ownership rights and potential early termination, make it difficult for retail investors to fully understand. The product is explicitly stated to be for clients with advanced knowledge, further supporting its classification as complex.",
    "confidence": 90
}