{
    "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 ARM 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, high risk indicator (7 out of 7), and the potential for significant losses (including total loss of investment) further contribute to its complexity. While it uses physical replication and does not explicitly mention derivatives or swaps, the leverage mechanism and the associated risks make it unsuitable for retail investors without specialized knowledge. The product's structure, including daily rebalancing and the potential for extreme volatility, aligns with MiFID II criteria for complex instruments.",
    "confidence": 95
}