{
    "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, Not UCITS Compliant",
    "classification": "complex",
    "supporting_data": "The Leverage Shares 2x NVIDIA ETP Securities are leveraged products designed to deliver 2x the daily performance of NVIDIA Corporation equity, which introduces significant leverage and compounding effects. These features make the product's risk and return profile difficult for retail investors to understand, especially over holding periods longer than one day. The product is not UCITS compliant, does not offer capital protection, and is explicitly intended for sophisticated investors. The KID includes a comprehension alert, confirming the product's complexity. Leverage, daily rebalancing, and the compounding effect are central to the strategy, and the product's structure and risks are not easily understood by retail investors with basic knowledge. These characteristics clearly fail the MiFID II Article 57 criteria for non-complex instruments, as the product involves actual or potential liability exceeding the cost of acquisition (due to leverage), and the risks (including market, liquidity, and compounding risks) are not transparent or straightforward. The product's high risk indicator (7/7) and explicit warnings in the KID further underscore its complexity. Therefore, under MiFID II, this ETP is classified as complex."
}