{
    "type": "ETC",
    "ucits": false,
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "synthetic",
    "complex_factors": [
        "Fully Collateralised Swap",
        "Counterparty Risk",
        "Commodity Futures Rolling"
    ],
    "classification": "complex",
    "supporting_data": "The WisdomTree Bloomberg WTI Crude Oil ETC is classified as complex due to its synthetic replication method using fully collateralised swaps, exposure to counterparty risk, and the inherent complexity of tracking WTI crude oil futures contracts, including roll costs and contango/backwardation effects. The KIID explicitly states that the product is not simple and may be difficult to understand, which aligns with MiFID II complexity indicators. Additionally, the ETC is not UCITS compliant, further supporting its classification as complex. The use of swaps and the need for investors to understand the nuances of commodity futures markets contribute to the complexity.",
    "confidence": 90
}