{
    "type": "ETP",
    "ucits": false,
    "replication_method": "synthetic",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "Synthetic replication",
        "Swap exposure",
        "Counterparty risk",
        "Complex index tracking"
    ],
    "classification": "complex",
    "supporting_data": "The product is an open-end tracker certificate linked to the UBS CMCI WTI Crude Oil USD TR Index, which is a complex commodity index. The product uses synthetic replication via swaps, exposing investors to counterparty risk. The KIID explicitly states 'You are about to purchase a product that is not simple and may be difficult to understand,' which is a strong indicator of complexity under MiFID II. The risk indicator is rated 6/7, and the product lacks capital protection, making it unsuitable for retail investors without advanced financial knowledge. The PRIIPs KID would likely contain a comprehension warning, further supporting the 'complex' classification.",
    "confidence": 95
}