{
    "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 Index Tracking",
    "supporting_data": "The Leverage Shares 3x NVIDIA ETP Securities are not UCITS-compliant. They are leveraged (3x daily performance), use derivatives to achieve their objective, and are structured as collateralized exchange-traded securities. The product's return depends on the daily performance of NVIDIA Corporation equity, tracked via a synthetic index, and involves daily rebalancing, which introduces a compounding effect that can significantly alter returns over holding periods longer than one day. The product is non-interest bearing, offers no capital protection, and carries the highest risk indicator (7/7). The structure, leverage, use of derivatives, and the complexity of the compounding mechanism make it difficult for a retail investor with basic knowledge to understand the risks and payoff. The product is intended for sophisticated investors who can monitor their investment frequently and understand the risks of leveraged products. These features align with the criteria for complex financial instruments under MiFID II Article 57, as the product involves actual or potential liability exceeding the cost of acquisition (due to leverage), uses derivatives integral to the strategy, and has a structure and risk profile that are not easily understood by the average retail client.",
    "classification": "complex"
}