{
    "type": "ETP",
    "leverage": true,
    "derivatives": true,
    "swaps": false,
    "inverse": true,
    "replication_method": "physical",
    "ucits": false,
    "complex_factors": [
        "Leverage",
        "Inverse Exposure",
        "Compounding Effect",
        "High Risk Profile (7/7)",
        "Short-Term Trading Requirement"
    ],
    "classification": "complex",
    "supporting_data": "The Leverage Shares -5x Short 20+ Year Treasury Bond ETP is classified as complex due to its -5x daily inverse leverage, high risk profile (7/7), and the compounding effect that makes it unsuitable for long-term holding. The product is designed for sophisticated investors who understand the risks of daily rebalancing and leveraged returns. The KIID explicitly states that the product is 'not simple and may be difficult to understand,' which aligns with MiFID II's criteria for complex instruments. Additionally, the recommended holding period of 1 day and the potential for significant losses due to leverage and compounding further support this classification.",
    "confidence": 95
}