{
    "type": "ETP",
    "leverage": true,
    "derivatives": true,
    "swaps": false,
    "inverse": true,
    "replication_method": "physical",
    "ucits": false,
    "complex_factors": [
        "Leverage",
        "Inverse Exposure",
        "Daily Compounding Effect",
        "High Risk Profile"
    ],
    "classification": "complex",
    "supporting_data": "The Leverage Shares -3x Short Financials ETP is classified as complex due to its -3x inverse leverage, which introduces significant risks and complexities. The product uses physical replication but employs short selling and daily rebalancing to achieve its leveraged inverse exposure. Key factors include: (1) The -3x leverage amplifies both gains and losses, making it unsuitable for most retail investors. (2) The daily compounding effect can lead to unexpected returns over longer holding periods. (3) The high risk profile (rated 7 out of 7) and the potential for substantial losses, including the possibility of losing the entire investment. (4) The product is explicitly stated to be intended for sophisticated investors who understand the risks of leveraged and inverse products. Additionally, the KIID includes warnings about the complexity and risks, further supporting the classification as a complex instrument under MiFID II.",
    "confidence": 95
}