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        "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.",
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        "prompt_version": "complex_asset_extract_v1",
        "captured_at_utc": "2026-06-22T20:01:24+00:00",
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    "confidence": 0.86,
    "review_required": false,
    "decision_rule_applied": "strict_etf_synthetic_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "First Trust Vest Nasdaq-100\u00ae Moderate Buffer UCITS ETF - December",
    "isin": "IE000GAKWFA7",
    "type": "ETF",
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    "asset_class": "Equity",
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        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": true,
        "derivatives_epm_only": false,
        "swaps": false,
        "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,
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        "priips_comprehension_alert": false,
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        "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"
        ],
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        "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_mentioned",
            "quote": "The Fund will primarily invest in financial derivative instruments for investment purposes."
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        {
            "source": "KIID",
            "signal": "derivatives_core_strategy",
            "quote": "The Fund intends to pursue an actively managed investment strategy and will seek to achieve its investment objective by investing substantially all of its assets in FLexible EXchange Options (\"FLEX Options\") that reference the performance of the Index."
        },
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            "source": "FACTSHEET",
            "signal": "synthetic_replication",
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        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "FLEX Options are cleared by the Options Clearing Corporation"
        },
        {
            "source": "KIID",
            "signal": "structured_payoff",
            "quote": "The Fund seeks to provide a buffer on the first 15% of Index losses at the end of each Target Outcome Period... while providing a buffer (before fees and expenses) against the first 15% of Index losses, over a specified approximately one-year time period (the \"Target Outcome Period\")."
        },
        {
            "source": "FACTSHEET",
            "signal": "structured_payoff",
            "quote": "The Fund is an actively managed Fund which seeks to provide investors with returns (before fees and expenses) that match the price return of the Nasdaq-100\u00ae Index, up to a predetermined upside cap, while providing a buffer (before fees and expenses) against the first 15% of Index losses, over a specified one year period."
        }
    ],
    "supporting_data": "ETF has evidenced synthetic replication. Policy mode: strict. Product type: ETF. UCITS signal identified. Replication method: synthetic.",
    "missing_data": [
        "illiquid_or_hard_to_value_underlying",
        "securities_lending"
    ],
    "warnings": [
        "counterparty_risk_language_identified"
    ],
    "sources": {
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            "url": "https://oppl.ai/apy/doc_store/IE000GAKWFA7_KIID.txt",
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            "http_code": 200,
            "bytes": 11332,
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            "http_code": 200,
            "bytes": 12330,
            "error": null
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            "url": "https://oppl.ai/apy/doc_store/IE000GAKWFA7_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 12627,
            "error": null
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        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE000GAKWFA7&size=3",
            "found": true,
            "http_code": 200,
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