{
    "ucits": false,
    "type": "ETP",
    "leverage": true,
    "derivatives": true,
    "swaps": true,
    "inverse": true,
    "replication_method": "synthetic",
    "complex_factors": "Leverage, Swaps, Synthetic Replication, Daily Compounding, High Risk Profile, No Capital Protection, Intended for Sophisticated Investors",
    "supporting_data": "The Leverage Shares -5x Short S&P 500 ETP Securities are not UCITS-compliant. They are leveraged (-5x daily), use swaps and synthetic replication to achieve their objective, and are explicitly intended for sophisticated investors who can monitor their investment frequently and understand the risks of compounded returns and inverse leveraged products. The product does not offer capital protection, and the KID states it is not simple and may be difficult to understand. The structure, risks (including counterparty, collateral, and compounding effects), and intended investor profile all indicate a complex product under MiFID II. The use of swaps for synthetic replication and the daily rebalancing of leverage introduce risks and complexities that are not easily understood by retail investors with basic knowledge. The productu2019s risk indicator is the highest (7/7), and the recommended holding period is just one day, further underscoring its complexity and unsuitability for typical retail investors.",
    "classification": "complex"
}