{
    "type": "ETP",
    "leverage": true,
    "derivatives": true,
    "swaps": true,
    "inverse": true,
    "replication_method": "synthetic",
    "ucits": false,
    "complex_factors": [
        "Leverage",
        "Swaps",
        "Inverse Exposure",
        "Daily Compounding Effect",
        "High Risk Profile (7/7)"
    ],
    "classification": "complex",
    "supporting_data": "The GraniteShares 3x Short AMD Daily ETP is a leveraged inverse product that uses swaps to achieve its -3x daily performance of AMD shares. The product is synthetic, relying on a swap agreement with Natixis, which introduces counterparty risk. The daily compounding effect and high volatility of the underlying asset further complicate the product's performance, making it difficult for retail investors to fully understand the risks and potential outcomes. The risk indicator is rated 7/7, the highest possible, indicating extreme risk. The product is explicitly stated to be suitable only for sophisticated investors with specific knowledge of leveraged and inverse products. The use of swaps, leverage, and inverse exposure, combined with the high-risk profile and complexity of the underlying strategy, clearly classify this as a complex product under MiFID II.",
    "confidence": 95
}