{
    "type": "ETP",
    "ucits": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The LS ARK NextGen Internet Tracker ETP is physically replicated, directly investing in the underlying ARK Next Generation Internet ETF. There is no leverage, inverse exposure, or use of derivatives or swaps. The risk indicator is 6 out of 7, but this is primarily due to the volatility of the underlying asset rather than structural complexity. The product is transparent, with a clear 1:1 exposure to the reference asset, and the costs are straightforward. The KIID explicitly states that no derivatives are used, and the structure is simple and transparent with full ownership of the underlying stock. The product is intended for retail investors with some market knowledge, but the structure itself is not inherently complex under MiFID II criteria.",
    "confidence": 95
}