{
    "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 Alibaba 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 7 out of 7. The ETP uses physical replication but employs margin (borrowing) to achieve its leveraged exposure, which adds complexity. The recommended holding period is only 1 day, and the product is intended for sophisticated investors who understand the risks of leverage and daily rebalancing. The high-risk profile, potential for significant losses, and the need for daily monitoring further contribute to its complexity under MiFID II.",
    "confidence": 95
}