{
    "leverage": true,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": false,
    "type": "ETP",
    "complex_factors": "Leverage, Daily Rebalancing, Compounding Effect, High Risk Profile, No Capital Protection, Intended for Sophisticated Investors",
    "classification": "complex",
    "supporting_data": "The Leverage Shares 2x Facebook ETP Securities are leveraged products designed to deliver 2x the daily performance of Facebook, Inc. equity, net of fees and expenses. Leverage is a core feature, and the product is intended for sophisticated investors who can monitor their investment frequently and understand the risks of compounded returns. The ETP is not UCITS-compliant, does not offer capital protection, and carries a very high risk (class 7/7 on the KID risk indicator). The compounding effect means returns over periods longer than one day will differ from 2x the underlying asset's return, adding complexity. The product is not automatically non-complex under MiFID II because it is not a UCITS and uses leverage as a central strategy, which introduces risks (including potential for significant losses) that are difficult for the average retail investor to understand. The KID explicitly states the product is 'not simple and may be difficult to understand,' and it is intended for investors with a very short investment horizon. These featuresu2014leverage, daily rebalancing, compounding, high risk, lack of capital protection, and targeting sophisticated investorsu2014collectively make this ETP complex under MiFID II, regardless of its physical replication method or the transparency of its underlying index."
}