{
    "ok": true,
    "_meta": {
        "isin": "CH0348206399",
        "asset_scope": "UK_COMPLEX_ASSET",
        "policy_mode": "strict",
        "policy_mode_description": "Any material derivative, swap, synthetic, complex underlying, structured payoff, roll-cost, leverage, inverse, or PRIIPs warning signal can drive complex classification.",
        "classification_engine_version": "1.0.0",
        "prompt_version": "complex_asset_extract_v1",
        "captured_at_utc": "2026-06-27T06:41:29+00:00",
        "captured_unix": 1782542489
    },
    "classification": "complex",
    "confidence": 0.93,
    "review_required": false,
    "decision_rule_applied": "etc_priips_comprehension_alert_hard_complex_rule",
    "product_policy_branch": "ETC",
    "fund_name": "Open End Tracker Certificates linked to UBS CMCI Components ex-Agriculture ex-Livestock Capped TR Index (USD)",
    "isin": "CH0348206399",
    "type": "ETC",
    "ucits": false,
    "asset_class": "commodity",
    "replication_method": "synthetic",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": false,
        "derivatives_core_strategy": false,
        "derivatives_epm_only": false,
        "swaps": false,
        "funded_swap": false,
        "unfunded_swap": false,
        "synthetic_replication": true,
        "counterparty_risk": false,
        "structured_payoff": false,
        "capital_protection": false,
        "commodity_futures_roll": false,
        "contango_backwardation": false,
        "coco_or_at1_exposure": false,
        "clo_exposure": false,
        "complex_index": false,
        "priips_comprehension_alert": true,
        "securities_lending": false,
        "illiquid_or_hard_to_value_underlying": false,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
    },
    "complex_factors": [
        "PRIIPs comprehension alert"
    ],
    "non_complex_factors": [
        "No leverage identified",
        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "high",
        "drivers": [
            "Synthetic or swap-based exposure",
            "Counterparty exposure may be relevant to returns or risk",
            "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": "priips_comprehension_alert",
            "quote": "You are about to purchase a product that is not simple and may be difficult to understand."
        },
        {
            "source": "KIID",
            "signal": "synthetic_replication",
            "quote": "You will not have any rights of ownership (including voting rights, rights to receive dividends or other distributions or any other rights) with respect to the Underlying."
        },
        {
            "source": "KIID",
            "signal": "type",
            "quote": "Open End Tracker Certificates linked to UBS CMCI Components ex-Agriculture ex-Livestock Capped TR Index (USD)"
        },
        {
            "source": "MARKET_DATA",
            "signal": "type",
            "quote": "category: ETFS, description: UBS AG UBS ETC (CMCI EX AGRI & LIVS CAP) USD"
        }
    ],
    "supporting_data": "Hard complex product feature identified: PRIIPs comprehension alert. Policy mode: strict. Product type: ETC. UCITS signal not identified. Replication method: synthetic.",
    "missing_data": [
        "priips_kid",
        "replication_method explicitly stated as 'synthetic' not found; inferred from no physical holding and product type",
        "commodity_futures_roll not explicitly mentioned, though underlying is a commodity index"
    ],
    "warnings": [],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/CH0348206399_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 13929,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/CH0348206399.txt",
            "found": false,
            "http_code": 404,
            "bytes": 1251,
            "error": "http_404"
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/CH0348206399_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 62,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=CH0348206399&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 268,
            "error": null
        }
    }
}