{
    "complex": true,
    "leverage": true,
    "derivatives": true,
    "swaps": false,
    "inverse": true,
    "replication_method": "physical",
    "ucits": false,
    "type": "ETP",
    "complex_factors": [
        "3x daily leverage",
        "Inverse exposure",
        "Short-term trading focus",
        "High volatility risk",
        "Compounding effect",
        "Non-UCITS structure"
    ],
    "classification": "complex",
    "supporting_data": "The product is classified as complex due to its 3x daily leverage, inverse exposure, and short-term trading focus. While it uses physical replication of the underlying stock (Salesforce.com), the leveraged nature and compounding effects make it unsuitable for retail investors without sophisticated knowledge. The risk profile (class 7/7) and warnings about daily monitoring requirements further support this classification. The product is not UCITS-compliant, and the high risk of loss (up to 100%) aligns with MiFID II's complexity criteria. The fact sheet confirms physical replication but highlights the risks of leveraged products, including potential for significant losses. The PRIIPs KID would likely contain a comprehension warning, reinforcing the complexity assessment.",
    "confidence": 95
}