{
    "name": "Amundi MSCI Indonesia UCITS ETF Acc",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "synthetic",
    "complex_factors": [
        "Synthetic replication using swaps",
        "Counterparty risk exposure"
    ],
    "classification": "complex",
    "supporting_data": "The ETF uses synthetic replication via an over-the-counter swap contract (financial derivative instrument) to track the MSCI Indonesia Net Total Return Index. This introduces counterparty risk with entities like Morgan Stanley Bank AG and Societe Generale, as explicitly mentioned in the KIID and factsheet. The presence of swap agreements and the associated counterparty risk are key indicators of complexity under MiFID II. Additionally, the factsheet highlights risks related to the swap structure, including liquidity risk and the potential for significant tracking error. While the ETF does not employ leverage or inverse strategies, the use of synthetic replication via swaps is sufficient to classify it as complex under MiFID II regulations.",
    "confidence": 90,
    "risk_level": 5,
    "counterparty_risk": true,
    "liquidity_risk": true,
    "benchmark_complexity": "The MSCI Indonesia Index is a standard equity index and not inherently complex, but the synthetic replication method adds complexity."
}