{
    "ok": true,
    "_meta": {
        "isin": "FR0010424135",
        "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": "2026-05-26T09:35:42+00:00",
        "captured_unix": 1779788142
    },
    "classification": "complex",
    "confidence": 0.93,
    "review_required": false,
    "decision_rule_applied": "etf_leveraged_hard_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "Amundi EURO STOXX 50 Daily (-1x) Inverse UCITS ETF Acc",
    "isin": "FR0010424135",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Equity",
    "replication_method": "synthetic",
    "signals": {
        "leveraged": true,
        "inverse": true,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": true,
        "derivatives_epm_only": false,
        "swaps": true,
        "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": true,
        "priips_comprehension_alert": false,
        "securities_lending": true,
        "illiquid_or_hard_to_value_underlying": true,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
    },
    "complex_factors": [
        "Leverage"
    ],
    "non_complex_factors": [
        "UCITS fund"
    ],
    "consumer_understanding": {
        "risk_level": "high",
        "drivers": [
            "Daily leveraged exposure",
            "Compounding and path dependency",
            "Inverse or short exposure",
            "Returns may move opposite to the referenced market",
            "Synthetic or swap-based exposure",
            "Counterparty exposure may be relevant to returns or risk",
            "Complex or rules-based index methodology",
            "Index performance may depend on dynamic allocation or strategy rules",
            "Derivatives appear core to the investment strategy",
            "Less liquid or harder-to-value underlying exposure language",
            "Counterparty risk language identified"
        ],
        "plain_english_explanation": "The product uses leveraged exposure. Ordinary retail clients may not understand that leverage can magnify both gains and losses and, where exposure resets daily, compounding can cause returns over longer periods to differ significantly from the headline leverage multiple.",
        "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": "inverse",
            "quote": "obtain an inverse exposure with a daily rebalancing to the European equities market"
        },
        {
            "source": "KIID",
            "signal": "inverse",
            "quote": "short selling strategy (with a -1x daily leverage effect)"
        },
        {
            "source": "KIID",
            "signal": "leveraged",
            "quote": "short selling strategy (with a -1x daily leverage effect)"
        },
        {
            "source": "KIID",
            "signal": "synthetic_replication",
            "quote": "indirect replication, namely by entering into one or more over-the-counter total return swaps"
        },
        {
            "source": "KIID",
            "signal": "swaps",
            "quote": "over-the-counter total return swaps"
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "risk of insolvency or other types of default of any counterparty"
        },
        {
            "source": "KIID",
            "signal": "complex_index",
            "quote": "EURO STOXX 50\u00ae Daily Short strategy index"
        },
        {
            "source": "PRIIPS_KID",
            "signal": "inverse",
            "quote": "inversely exposed with a daily rebalancing to the European stock market"
        },
        {
            "source": "PRIIPS_KID",
            "signal": "leveraged",
            "quote": "short selling strategy (with a daily -1x leverage effect)"
        },
        {
            "source": "PRIIPS_KID",
            "signal": "synthetic_replication",
            "quote": "synthetically replicate the Index, the Fund exchanges the performance of the assets held by the Fund for that of the Index by entering into futures contracts or total return swaps (TRS)"
        },
        {
            "source": "PRIIPS_KID",
            "signal": "swaps",
            "quote": "total return swaps (TRS)"
        },
        {
            "source": "FACTSHEET",
            "signal": "inverse",
            "quote": "EURO STOXX 50 Short Return Index"
        },
        {
            "source": "FACTSHEET",
            "signal": "synthetic_replication",
            "quote": "Replication type : Synthetical"
        },
        {
            "source": "FACTSHEET",
            "signal": "swaps",
            "quote": "OTC Swap with MORGAN STANLEY BANK AG , SOCIETE GENERALE"
        },
        {
            "source": "FACTSHEET",
            "signal": "counterparty_risk",
            "quote": "COUNTERPARTY RISK : Investors are exposed to risks resulting from the use of an OTC Swap"
        }
    ],
    "supporting_data": "Hard complex product feature identified: Leverage. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: synthetic.",
    "missing_data": [
        "funded_swap",
        "unfunded_swap",
        "priips_comprehension_alert"
    ],
    "warnings": [
        "illiquid_or_hard_to_value_underlying_identified",
        "counterparty_risk_language_identified"
    ],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/FR0010424135_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 10310,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/FR0010424135.txt",
            "found": true,
            "http_code": 200,
            "bytes": 13173,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/FR0010424135_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 15285,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=FR0010424135&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 578,
            "error": null
        }
    }
}