{
    "ucits": false,
    "type": "ETP",
    "leverage": true,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "synthetic",
    "complex_factors": "Leverage, Derivatives, Complex Payoff Structure, Compounding Effect, High Risk Profile, No Capital Protection, Intended for Sophisticated Investors",
    "supporting_data": "The Leverage Shares 3x BP ETP Securities are not UCITS-compliant. They are leveraged (3x daily performance of the underlying asset), use derivatives to achieve this leverage, and have a complex payoff structure due to daily rebalancing and compounding effects, which can result in returns significantly different from a simple multiple of the underlying over periods longer than one day. The product is explicitly intended for sophisticated investors, carries no capital protection, and is classified as the highest risk class (7/7). The structure, risks, and payoff are not easily understood by retail investors with basic knowledge, and the KID includes a comprehension alert, indicating the product is not simple and may be difficult to understand. These featuresu2014leverage, derivative use, complex payoff, high risk, and lack of capital protectionu2014are all factors that, under MiFID II Article 57 and ESMA guidance, render the product complex, regardless of the transparency of the underlying index or the physical collateral held.",
    "classification": "complex"
}