{
    "leverage": true,
    "derivatives": true,
    "swaps": false,
    "inverse": true,
    "replication_method": "physical",
    "ucits": false,
    "type": "ETP",
    "complex_factors": [
        "Inverse exposure",
        "Leverage",
        "Short-term trading focus",
        "High risk profile"
    ],
    "classification": "complex",
    "supporting_data": "The product is classified as complex due to its inverse leverage structure (-1x exposure to Square, Inc.), which magnifies risk and requires daily monitoring. The KIID explicitly states it is 'not simple and may be difficult to understand,' and the PRIIPs KID includes a comprehension warning. The product's high risk rating (6/7) and the need for sophisticated investors to monitor positions daily further support this classification. While the replication method is physical (owning underlying assets), the inverse leverage and short-term trading focus make it unsuitable for retail investors without specialized knowledge.",
    "confidence": 95
}