{
    "type": "ETP",
    "leverage": true,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": false,
    "complex_factors": [
        "Leverage",
        "Compounding Effect",
        "High Risk Profile"
    ],
    "classification": "complex",
    "supporting_data": "The Leverage Shares 3x Long Silver ETP is classified as complex due to its 3x leverage, which amplifies both gains and losses, making it unsuitable for retail investors without sophisticated knowledge. The compounding effect from daily rebalancing further complicates the product, as it can lead to unexpected returns over longer holding periods. The high risk profile (rated 7 out of 7) and the explicit warning that the product is not simple and may be difficult to understand reinforce this classification. Although the ETP uses physical replication and does not explicitly use derivatives or swaps, the leverage and the associated risks make it inherently complex under MiFID II rules.",
    "confidence": 95
}