{
    "type": "ETP",
    "ucits": false,
    "leverage": true,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [
        "Leverage",
        "Compounding Effect",
        "High Risk Profile"
    ],
    "classification": "complex",
    "supporting_data": "The Leverage Shares 3x Long India 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 its performance, especially over longer holding periods. The high risk profile (rated 7 out of 7) and the explicit warning that it is not simple and may be difficult to understand reinforce its complexity. While it uses physical replication and does not employ derivatives or swaps, the leverage alone is sufficient to classify it as complex under MiFID II. The product is explicitly intended for sophisticated investors who can monitor their investment frequently and understand the risks of compounded returns.",
    "confidence": 95
}