{
    "ok": true,
    "_meta": {
        "isin": "CH0348206241",
        "asset_scope": "UK_COMPLEX_ASSET",
        "policy_mode": "balanced",
        "policy_mode_description": "UCITS ETFs usually start from a non-complex baseline, but product-level complexity such as synthetic replication, swaps, leverage, inverse exposure, complex debt, commodity roll exposure, or comprehension warnings can override that baseline.",
        "classification_engine_version": "1.0.0",
        "prompt_version": "complex_asset_extract_v1",
        "captured_at_utc": "2026-06-17T12:36:20+00:00",
        "captured_unix": 1781699780
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    "confidence": 0.93,
    "review_required": false,
    "decision_rule_applied": "etc_priips_comprehension_alert_hard_complex_rule",
    "product_policy_branch": "ETC",
    "fund_name": "UBS AG UBS ETC (CMCI INDUSTRIAL MTLS) GBP",
    "isin": "CH0348206241",
    "type": "ETC",
    "ucits": false,
    "asset_class": "commodity",
    "replication_method": "synthetic",
    "signals": {
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        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": true,
        "derivatives_epm_only": false,
        "swaps": false,
        "funded_swap": false,
        "unfunded_swap": false,
        "synthetic_replication": true,
        "counterparty_risk": true,
        "structured_payoff": false,
        "capital_protection": false,
        "commodity_futures_roll": false,
        "contango_backwardation": false,
        "coco_or_at1_exposure": false,
        "clo_exposure": false,
        "complex_index": false,
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        "securities_lending": false,
        "illiquid_or_hard_to_value_underlying": false,
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        "crypto_digital_asset": false
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        "PRIIPs comprehension alert"
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        "No leverage identified",
        "No inverse exposure identified"
    ],
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        "risk_level": "high",
        "drivers": [
            "Synthetic or swap-based exposure",
            "Counterparty exposure may be relevant to returns or risk",
            "Derivatives appear core to the investment strategy",
            "Counterparty risk language identified",
            "PRIIPs comprehension alert language"
        ],
        "plain_english_explanation": "The product appears to use synthetic or swap-based exposure. This may be difficult for ordinary retail clients to understand because returns can depend not only on the referenced market exposure but also on derivative mechanics, collateral arrangements and counterparty risk.",
        "appropriateness_note": "This is a product-level indicator of features that may affect general investor understanding. It does not determine whether the product is appropriate for a specific client and does not replace a client-specific appropriateness assessment."
    },
    "supporting_evidence": [
        {
            "source": "KIID",
            "signal": "synthetic_replication",
            "quote": "Open End Tracker Certificates linked to UBS CMCI Industrial Metals GBP Monthly Hedged Total Return Index"
        },
        {
            "source": "KIID",
            "signal": "priips_comprehension_alert",
            "quote": "You are about to purchase a product that is not simple and may be difficult to understand."
        },
        {
            "source": "KIID",
            "signal": "derivatives_core_strategy",
            "quote": "Redemption Amount equals the Settlement Price... multiplied by the Multiplier and adjusted by the Management Fee"
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "You are exposed to the risk that the Issuer might be unable to fulfil its obligations in respect of the product \u2013 e.g. in the event of insolvency..."
        }
    ],
    "supporting_data": "Hard complex product feature identified: PRIIPs comprehension alert. Policy mode: balanced. Product type: ETC. UCITS signal not identified. Replication method: synthetic.",
    "missing_data": [
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    ],
    "warnings": [
        "counterparty_risk_language_identified"
    ],
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            "http_code": 200,
            "bytes": 14062,
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            "http_code": 404,
            "bytes": 1251,
            "error": "http_404"
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        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/CH0348206241_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 215,
            "error": null
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        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=CH0348206241&size=3",
            "found": true,
            "http_code": 200,
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}