{
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    "_meta": {
        "isin": "FR0010435297",
        "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": "2026-06-19T10:19:30+00:00",
        "captured_unix": 1781864370
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    "classification": "complex",
    "confidence": 0.88,
    "review_required": false,
    "decision_rule_applied": "balanced_etf_swap_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "Amundi MSCI Emerging Markets Swap II UCITS ETF USD Acc",
    "isin": "FR0010435297",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Equity",
    "replication_method": "synthetic",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "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": false,
        "priips_comprehension_alert": false,
        "securities_lending": true,
        "illiquid_or_hard_to_value_underlying": true,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
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        "Swap usage"
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        "UCITS fund",
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        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "elevated",
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            "Counterparty exposure may be relevant to returns or risk",
            "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 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."
    },
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        {
            "source": "KIID",
            "signal": "swaps",
            "quote": "The Fund aims to achieve its objective through indirect replication, namely by entering into one or more over-the-counter total return swaps (financial derivative instruments, or \"FDI\")."
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "Counterparty risk: The Fund is exposed to the risk of insolvency or other types of default of any counterparty with which it enters into an agreement or transaction, particularly in the case of financial derivative instruments traded over the counter"
        },
        {
            "source": "FACTSHEET",
            "signal": "synthetic_replication",
            "quote": "Replication type : Synthetical"
        },
        {
            "source": "KIID",
            "signal": "derivatives_core_strategy",
            "quote": "The Fund aims to achieve its objective through indirect replication, namely by entering into one or more over-the-counter total return swaps"
        },
        {
            "source": "FACTSHEET",
            "signal": "derivatives_core_strategy",
            "quote": "COUNTERPARTY RISK : Investors are exposed to risks resulting from the use of an OTC Swap with MORGAN STANLEY BANK AG , SOCIETE GENERALE."
        }
    ],
    "supporting_data": "ETF has evidenced core or synthetic swap usage. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: synthetic.",
    "missing_data": [
        "funded_swap / unfunded_swap not explicitly stated in documents",
        "illiquid_or_hard_to_value_underlying not clearly indicated"
    ],
    "warnings": [
        "illiquid_or_hard_to_value_underlying_identified",
        "counterparty_risk_language_identified"
    ],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/FR0010435297_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 9410,
            "error": null
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            "url": "https://oppl.ai/eu_kiids/en_txt/FR0010435297.txt",
            "found": true,
            "http_code": 200,
            "bytes": 12452,
            "error": null
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        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/FR0010435297_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 16432,
            "error": null
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        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=FR0010435297&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 726,
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}