{
    "type": "ETP",
    "ucits": false,
    "leverage": true,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [
        "Leverage",
        "Compounding Effect",
        "High Risk Profile"
    ],
    "classification": "complex",
    "supporting_data": "The Leverage Shares 2x Goldman Sachs ETP is classified as 'complex' under MiFID II due to several key factors. Firstly, it employs 2x leverage, which inherently introduces complexity through the compounding effect and daily rebalancing, making it difficult for retail investors to fully understand the potential outcomes. The product's high risk profile (rated 6 out of 7) and the explicit warning that it is not simple and may be difficult to understand further support this classification. Additionally, the ETP is designed for sophisticated investors who can monitor their positions intraday, indicating that it is not suitable for typical retail investors. While the replication method is physical, the use of leverage and the associated risks, such as the potential for significant losses and the compounding effect, are the primary drivers of its complexity. The product's structure, which includes borrowing to amplify returns, also contributes to its classification as complex.",
    "confidence": 95
}