{
    "type": "ETP",
    "leverage": true,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "synthetic",
    "ucits": false,
    "complex_factors": [
        "Leverage",
        "Swaps",
        "Futures Rolling",
        "Compounding Effect"
    ],
    "classification": "complex",
    "supporting_data": "The WisdomTree Gilts 10Y 3x Daily Leveraged ETP exhibits multiple complexity indicators under MiFID II. It uses synthetic replication via swaps to achieve 3x daily leveraged exposure to Gilt futures, which introduces significant counterparty risk and complexity. The daily compounding effect and the rolling of futures contracts add layers of complexity that retail investors may struggle to understand. The high risk rating (7/7) and the explicit warning that the product is 'not simple and may be difficult to understand' further support the complex classification. The use of derivatives is not merely for efficient portfolio management but is central to the product's strategy, amplifying both returns and risks.",
    "confidence": 95
}