{
    "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 US Tech 100 ETP is classified as complex due to its 3x leverage, which amplifies both gains and losses. The product explicitly states it is designed for sophisticated investors who understand the risks of leverage and daily rebalancing. The compounding effect, which can significantly alter returns over time, adds complexity. The risk indicator is the highest level (7 out of 7), and the product is not capital protected. While it uses physical replication, the leverage and associated risks make it unsuitable for retail investors without specialized knowledge. The product's structure, including the potential for significant losses and the need for daily monitoring, further supports its classification as complex under MiFID II.",
    "confidence": 95,
    "additional_notes": "Although the ETP uses physical replication and does not explicitly mention derivatives or swaps, the 3x leverage and the compounding effect introduce significant complexity. The high-risk profile and the need for sophisticated investors to understand the product's mechanics are key factors in this classification. The product's documentation repeatedly emphasizes the risks and the potential for substantial losses, reinforcing its complex nature."
}