{
    "ucits": false,
    "type": "ETP",
    "leverage": true,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "synthetic",
    "complex_factors": "Leverage, Derivatives, Compounding Effect, High Risk Profile, No Capital Protection, Complex Payoff Structure, Intended for Sophisticated Investors",
    "supporting_data": "The Leverage Shares 3x Alphabet ETP Securities are Exchange Traded Products (ETPs) that provide 3x leveraged daily exposure to Alphabet, Inc. equity, using synthetic replication via a margin account holding the reference asset, cash, and ancillary assets. The product is not UCITS-compliant. It uses significant leverage (3x daily), which introduces compounding effects that can magnify losses, especially over holding periods longer than one day. The product is explicitly intended for sophisticated investors who can monitor their investments frequently, understand the risks of leveraged products, and afford to lose their investment. The KID states a risk indicator of 7/7 (highest risk), no capital protection, and that investors may lose all or part of their investment. The structure, daily rebalancing, and compounding effect make the payoff difficult for the average retail investor to understand. The product does not use swaps but relies on a synthetic structure with collateral assets, and the issueru2019s payment obligations are funded by liquidating these assets, introducing additional risks. The productu2019s complexity is further highlighted by the explicit warning in the KID that it 'is not simple and may be difficult to understand,' and it is recommended only for investors with a very short investment horizon (1 day).",
    "classification": "complex"
}