{
    "type": "ETP",
    "leverage": true,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "synthetic",
    "ucits": true,
    "complex_factors": [
        "5x Daily Leverage",
        "FX Forward Contracts",
        "Compounding Effect",
        "High Risk Rating (7/7)",
        "Collateralised Debt Structure"
    ],
    "classification": "complex",
    "supporting_data": "The WisdomTree Long USD Short EUR 5x Daily ETP exhibits multiple complexity indicators under MiFID II. The primary factors driving this classification are the 5x daily leverage, which amplifies both gains and losses, and the use of FX forward contracts to achieve this exposure. The compounding effect of daily resets further complicates the performance relative to the underlying index. The product is rated at the highest risk level (7/7), indicating significant potential for loss. Additionally, the ETP's structure as a collateralised debt security and the explicit warning that it is 'not simple and may be difficult to understand' reinforce its complex nature. The intended investor profile specifies that it is only suitable for informed retail investors with specific knowledge of similar products, further supporting the complex classification.",
    "confidence": 95
}