{
    "name": "Amundi MSCI Turkey 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 Turkey 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 ETF's risk profile includes specific warnings about the risks of financial derivative instruments, further supporting the classification as complex.",
    "confidence": 95,
    "risk_level": 5,
    "counterparty_risk": true,
    "benchmark_complexity": "moderate",
    "liquidity_risk": "moderate",
    "additional_notes": "While the ETF does not employ leverage or inverse strategies, the use of synthetic replication via swaps and the associated counterparty risks are sufficient to classify it as complex under MiFID II. The factsheet explicitly states the replication type as 'synthetic' and highlights counterparty risks, reinforcing this assessment."
}