{
    "ok": true,
    "_meta": {
        "isin": "FR0010446658",
        "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": "2026-07-13T15:56:58+00:00",
        "captured_unix": 1783958218
    },
    "classification": "complex",
    "confidence": 0.93,
    "review_required": false,
    "decision_rule_applied": "etf_leveraged_hard_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "Amundi FTSE MIB Daily (2x) Leveraged UCITS ETF Dist",
    "isin": "FR0010446658",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Equity",
    "replication_method": "synthetic",
    "signals": {
        "leveraged": true,
        "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": 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",
        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "high",
        "drivers": [
            "Daily leveraged exposure",
            "Compounding and path dependency",
            "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": "leveraged",
            "quote": "FTSE MIB Daily (2x) Leveraged UCITS ETF Dist"
        },
        {
            "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 (financial derivative instruments, or 'FDI')."
        },
        {
            "source": "KIID",
            "signal": "swaps",
            "quote": "entering into one or more over-the-counter total return swaps"
        },
        {
            "source": "KIID",
            "signal": "synthetic_replication",
            "quote": "indirect replication, namely by entering into one or more over-the-counter total return swaps"
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "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": "KIID",
            "signal": "complex_index",
            "quote": "FTSE MIB Daily Leveraged RT Net-of-Tax (Lux) TR strategy index (the 'Benchmark Index'), which represents a leverage strategy (with a 2x daily leverage effect) with a daily rebalancing"
        },
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "financial derivative instruments, or 'FDI'"
        },
        {
            "source": "PRIIPS_KID",
            "signal": "leveraged",
            "quote": "leverage strategy (with a daily 2x leverage effect)"
        },
        {
            "source": "PRIIPS_KID",
            "signal": "swaps",
            "quote": "entering into one or more OTC swaps (forward financial instruments, 'FFIs')"
        },
        {
            "source": "PRIIPS_KID",
            "signal": "synthetic_replication",
            "quote": "indirect replication, namely by entering into one or more OTC swaps"
        },
        {
            "source": "FACTSHEET",
            "signal": "leveraged",
            "quote": "LYXOR FTSE MIB DAILY LEVERAGED UCITS ETF"
        },
        {
            "source": "FACTSHEET",
            "signal": "swaps",
            "quote": "Replication method Indirect (Swap Based)"
        },
        {
            "source": "FACTSHEET",
            "signal": "synthetic_replication",
            "quote": "Replication method Indirect (Swap Based)"
        },
        {
            "source": "FACTSHEET",
            "signal": "counterparty_risk",
            "quote": "COUNTERPARTY RISK: Investors are exposed to risks resulting from the use of an OTC Swap with Societe Generale."
        }
    ],
    "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/FR0010446658_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 10086,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/FR0010446658.txt",
            "found": true,
            "http_code": 200,
            "bytes": 14729,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/FR0010446658_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 13141,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=FR0010446658&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 559,
            "error": null
        }
    }
}