{
    "type": "ETP",
    "leverage": true,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": false,
    "complex_factors": [
        "Leverage",
        "Compounding Effect",
        "High Risk Profile"
    ],
    "classification": "complex",
    "supporting_data": "The Leverage Shares 2x Alphabet ETP is classified as complex due to its leveraged structure (2x daily exposure), which introduces significant risks such as the compounding effect and high volatility. The KIID explicitly states that the product is not simple and may be difficult to understand, with a risk indicator of 6 out of 7. The ETP is designed for sophisticated investors who understand the risks of leverage and daily rebalancing. The use of margin (borrowing) to amplify returns further contributes to its complexity. While the replication method is physical, the leverage and associated risks make it unsuitable for retail investors without specialized knowledge.",
    "confidence": 95
}