{
    "leverage": true,
    "derivatives": false,
    "swaps": false,
    "inverse": true,
    "replication_method": "physical",
    "ucits": false,
    "type": "ETP",
    "complex_factors": [
        "Leverage (3x)",
        "Inverse exposure",
        "High volatility risk",
        "Short-term holding requirement"
    ],
    "classification": "complex",
    "supporting_data": "The product is classified as 'complex' under MiFID II due to several key factors: 1) It provides 3x leveraged exposure to NVIDIA stock, which amplifies both gains and losses, making it unsuitable for retail investors without sophisticated knowledge. 2) The product is designed for daily trading and warns against holding periods longer than one day due to compounding effects, indicating a high level of complexity. 3) The risk indicator is rated 7/7, the highest level, and the product explicitly states it is intended for 'sophisticated investors' who can monitor positions frequently. 4) While the replication method is physical (direct ownership of NVIDIA stock), the leveraged and inverse nature of the product introduces significant complexity. 5) The product carries a 'comprehension warning' in the PRIIPs KID, reinforcing its complex nature. The fact that it is not UCITS-compliant and is structured as an ETP (not an ETF) further supports this classification.",
    "confidence": 95
}