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        "isin": "IE000FP52WM7",
        "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": "2026-06-13T18:50:32+00:00",
        "captured_unix": 1781376632
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    "confidence": 0.88,
    "review_required": false,
    "decision_rule_applied": "balanced_etf_swap_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "Global X Disruptive Materials UCITS ETF",
    "isin": "IE000FP52WM7",
    "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,
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        "priips_comprehension_alert": false,
        "securities_lending": true,
        "illiquid_or_hard_to_value_underlying": false,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
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        "No inverse exposure identified"
    ],
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        "drivers": [
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            "Derivatives appear core to the investment strategy",
            "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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            "signal": "derivatives_core_strategy",
            "quote": "When not possible or practicable to continue to hold all of the component securities of the Index, the Fund may invest in depositary receipts relating either to components securities of the Index or to equity securities of the type referred to above; and financial derivative instruments (\u201cFDIs\u201d), namely, total return \u201cunfunded\u201d OTC swaps and exchange-traded equity futures for investment purposes."
        },
        {
            "source": "KIID",
            "signal": "swaps",
            "quote": "total return \u201cunfunded\u201d OTC swaps"
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        {
            "source": "KIID",
            "signal": "unfunded_swap",
            "quote": "total return \u201cunfunded\u201d OTC swaps"
        },
        {
            "source": "KIID",
            "signal": "synthetic_replication",
            "quote": "When not possible or practicable to continue to hold all of the component securities of the Index, the Fund may invest in ... financial derivative instruments (\u201cFDIs\u201d), namely, total return \u201cunfunded\u201d OTC swaps ... for investment purposes."
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "total return \u201cunfunded\u201d OTC swaps"
        },
        {
            "source": "KIID",
            "signal": "securities_lending",
            "quote": "The Fund may enter into securities lending transactions, investing in repurchase and reverse repurchase transactions and collective investment schemes, for the purposes of efficient portfolio management only."
        }
    ],
    "supporting_data": "ETF has evidenced core or synthetic swap usage. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: synthetic.",
    "missing_data": [
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        "funded_swap",
        "illiquid_or_hard_to_value_underlying"
    ],
    "warnings": [
        "counterparty_risk_language_identified"
    ],
    "sources": {
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            "url": "https://oppl.ai/apy/doc_store/IE000FP52WM7_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 15273,
            "error": null
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            "url": "https://oppl.ai/eu_kiids/en_txt/IE000FP52WM7.txt",
            "found": true,
            "http_code": 200,
            "bytes": 13836,
            "error": null
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        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE000FP52WM7_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 62,
            "error": null
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        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE000FP52WM7&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 564,
            "error": null
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}