{
    "type": "ETP",
    "ucits": false,
    "leverage": true,
    "derivatives": true,
    "swaps": false,
    "inverse": true,
    "replication_method": "physical",
    "complex_factors": [
        "Leverage",
        "Inverse Exposure",
        "Daily Compounding Effect",
        "High Risk Profile"
    ],
    "classification": "complex",
    "supporting_data": "The Leverage Shares -3x Short Nvidia (NVDA) ETP is classified as complex due to several key factors. Firstly, it employs a -3x leverage, which significantly amplifies both gains and losses, making it unsuitable for retail investors without sophisticated knowledge. The inverse exposure further complicates the product, as it moves opposite to the underlying asset's performance. The daily compounding effect, which can lead to unexpected returns over longer holding periods, adds another layer of complexity. Additionally, the product has a high risk profile (rated 7 out of 7) and is explicitly stated to be intended for sophisticated investors who understand the risks of leveraged and inverse products. The KIID also warns that the product is not simple and may be difficult to understand, reinforcing its complex nature under MiFID II regulations.",
    "confidence": 95
}