{
    "ok": true,
    "_meta": {
        "isin": "IE000EXUE0G2",
        "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": "2026-06-14T09:54:19+00:00",
        "captured_unix": 1781430859
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    "confidence": 0.88,
    "review_required": false,
    "decision_rule_applied": "balanced_etf_swap_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "Xtrackers NASDAQ 100 Swap UCITS ETF",
    "isin": "IE000EXUE0G2",
    "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,
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        "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": false,
        "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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        "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."
    },
    "supporting_evidence": [
        {
            "source": "KIID",
            "signal": "derivatives_core_strategy",
            "quote": "the fund will invest in transferable securities and enter into financial contracts (derivatives) with one or more counterparties relating to the transferable securities and the net or gross total return version of the index (swap index), in order to obtain the return on the swap index."
        },
        {
            "source": "KIID",
            "signal": "swaps",
            "quote": "the fund will invest in transferable securities and enter into financial contracts (derivatives) with one or more counterparties relating to the transferable securities and the net or gross total return version of the index (swap index), in order to obtain the return on the swap index."
        },
        {
            "source": "FACTSHEET",
            "signal": "synthetic_replication",
            "quote": "Portfolio Methodology Indirect Replication (Swap)"
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "If any of the counterparties fails to make payments (for example, becomes insolvent) this may result in your investment suffering a loss."
        },
        {
            "source": "PRIIPS_KID",
            "signal": "ucits",
            "quote": "The fund is an Irish based UCITS."
        }
    ],
    "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/unfunded swap status"
    ],
    "warnings": [
        "illiquid_or_hard_to_value_underlying_identified",
        "counterparty_risk_language_identified"
    ],
    "sources": {
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            "url": "https://oppl.ai/apy/doc_store/IE000EXUE0G2_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 9543,
            "error": null
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        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE000EXUE0G2.txt",
            "found": true,
            "http_code": 200,
            "bytes": 15045,
            "error": null
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        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE000EXUE0G2_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 10490,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE000EXUE0G2&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 298,
            "error": null
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}