{
    "type": "ETP",
    "leverage": true,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "synthetic",
    "ucits": false,
    "complex_factors": [
        "Leverage (3x daily)",
        "Synthetic replication via swaps",
        "Daily compounding effect",
        "High risk rating (7/7)",
        "Counterparty risk from swap agreements",
        "Complex benchmark tracking (FTSE 100 Daily Super Leveraged RT TR Index)"
    ],
    "classification": "complex",
    "supporting_data": "The WisdomTree FTSE 100 3x Daily Leveraged ETP exhibits multiple complexity indicators under MiFID II. The primary factors driving this classification are the 3x daily leverage, synthetic replication via swap agreements, and the compounding effects of daily resets. The KIID explicitly states this is 'not a simple product' and may be 'difficult to understand,' which aligns with MiFID II's complexity criteria. The high risk rating (7/7) and warnings about potential total loss of capital further support this classification. The use of swaps introduces counterparty risk, and the daily leveraged structure creates non-linear returns that retail investors may struggle to comprehend. While the product is UCITS-eligible, its leveraged nature and synthetic replication method clearly place it in the complex category.",
    "confidence": 95
}