{
    "type": "ETP",
    "leverage": true,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "synthetic",
    "ucits": false,
    "complex_factors": [
        "Leverage",
        "Swaps",
        "Daily Compounding Effect",
        "Counterparty Risk",
        "High Risk Rating (7/7)"
    ],
    "classification": "complex",
    "supporting_data": "The WisdomTree EURO STOXX 50 3x Daily Leveraged ETP exhibits multiple complexity indicators under MiFID II. It uses synthetic replication via swaps to achieve 3x daily leveraged exposure to the EURO STOXX 50 index, which inherently involves counterparty risk and derivative usage beyond efficient portfolio management. The daily compounding effect and high risk rating (7/7) further contribute to its complexity. The product is explicitly stated to be 'not simple and may be difficult to understand,' reinforcing its complex classification. The presence of leverage, swaps, and the potential for significant tracking error due to daily resets make it unsuitable for retail investors without specialized knowledge.",
    "confidence": 95,
    "risk_level": "Very High (7/7)",
    "counterparty_risk": true,
    "daily_compounding": true,
    "capital_protection": false,
    "structured_features": false,
    "illiquid_assets": false,
    "comprehension_warning": true,
    "regulatory_notes": "The product is not UCITS compliant and carries explicit warnings about its complexity and suitability only for sophisticated investors. The PRIIPs KID and factsheet emphasize the risks of leverage, daily compounding, and counterparty exposure, all of which are hallmarks of complex instruments under MiFID II."
}