{
    "type": "ETP",
    "ucits": false,
    "leverage": true,
    "derivatives": true,
    "swaps": true,
    "inverse": true,
    "replication_method": "synthetic",
    "complex_factors": [
        "Leverage",
        "Inverse Exposure",
        "Daily Compounding Effect",
        "Counterparty Risk",
        "High Risk Rating (7/7)"
    ],
    "classification": "complex",
    "supporting_data": "The WisdomTree EURO STOXX Banks 3x Daily Short ETP exhibits multiple complexity indicators under MiFID II. It is a leveraged inverse product with a -3x daily exposure to the EURO STOXX Banks index, which inherently introduces complexity due to the compounding effects and potential for significant deviations from the underlying index performance over time. The use of swaps and synthetic replication further adds to the complexity, as evidenced by the mention of collateralized swap structures and counterparty risk. The high risk rating of 7/7 and the explicit warnings about the product's complexity and suitability only for informed investors reinforce its classification as a complex instrument. Additionally, the daily rebalancing and the potential for significant tracking error due to volatility compounding are factors that require sophisticated understanding.",
    "confidence": 95
}