{
    "ok": true,
    "_meta": {
        "isin": "IE000EOFR2K5",
        "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": "2026-06-22T14:56:26+00:00",
        "captured_unix": 1782140186
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    "classification": "complex",
    "confidence": 0.88,
    "review_required": false,
    "decision_rule_applied": "strict_etf_swap_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "iShares US Large Cap Deep Buffer UCITS ETF",
    "isin": "IE000EOFR2K5",
    "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": true,
        "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
    },
    "complex_factors": [
        "Swap usage"
    ],
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        "UCITS fund",
        "No leverage identified",
        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "elevated",
        "drivers": [
            "Synthetic or swap-based exposure",
            "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": "unfunded total return swaps which seek to deliver the performance of the Index"
        },
        {
            "source": "KIID",
            "signal": "unfunded_swap",
            "quote": "unfunded total return swaps"
        },
        {
            "source": "KIID",
            "signal": "synthetic_replication",
            "quote": "unfunded total return swaps which seek to deliver the performance of the Index"
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "Counterparty Risk: The insolvency of any institutions providing services such as safekeeping of assets or acting as counterparty to derivatives or other instruments, may expose the Share Class to financial loss."
        },
        {
            "source": "KIID",
            "signal": "structured_payoff",
            "quote": "upside cap on positive performance ... downside protection against negative performance ... Approximate Buffer"
        },
        {
            "source": "KIID",
            "signal": "derivatives_core_strategy",
            "quote": "In order to achieve its investment objective, the Fund will invest in financial derivative instruments (FDIs) ... in particular in unfunded total return swaps which seek to deliver the performance of the Index and listed options in order to implement the Approximate Buffer and Upside Cap."
        },
        {
            "source": "KIID",
            "signal": "securities_lending",
            "quote": "To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue"
        }
    ],
    "supporting_data": "ETF has evidenced core or synthetic swap usage. Policy mode: strict. Product type: ETF. UCITS signal identified. Replication method: synthetic.",
    "missing_data": [
        "funded_swap"
    ],
    "warnings": [
        "illiquid_or_hard_to_value_underlying_identified",
        "counterparty_risk_language_identified"
    ],
    "sources": {
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            "url": "https://oppl.ai/apy/doc_store/IE000EOFR2K5_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 11737,
            "error": null
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            "url": "https://oppl.ai/eu_kiids/en_txt/IE000EOFR2K5.txt",
            "found": true,
            "http_code": 200,
            "bytes": 15790,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE000EOFR2K5_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 11616,
            "error": null
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        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE000EOFR2K5&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 287,
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}