{
    "ok": true,
    "_meta": {
        "isin": "IE00BG0J4841",
        "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": "2026-06-19T09:16:25+00:00",
        "captured_unix": 1781860585
    },
    "classification": "non-complex",
    "confidence": 0.82,
    "review_required": false,
    "decision_rule_applied": "etf_ucits_physical_no_complex_override_rule",
    "product_policy_branch": "ETF",
    "fund_name": "iShares Digital Security UCITS ETF USD (Dist) Share Class",
    "isin": "IE00BG0J4841",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Equity",
    "replication_method": "physical",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": false,
        "derivatives_epm_only": false,
        "swaps": false,
        "funded_swap": false,
        "unfunded_swap": false,
        "synthetic_replication": false,
        "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": [],
    "non_complex_factors": [
        "UCITS fund",
        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "moderate",
        "drivers": [
            "Less liquid or harder-to-value underlying exposure language",
            "Counterparty risk language identified",
            "UCITS ETF structure",
            "Physical replication or direct portfolio holdings"
        ],
        "plain_english_explanation": "The product is identified as a UCITS ETF using physical replication or direct portfolio holdings. No leverage, inverse exposure, synthetic replication or structured payoff was identified. Some ordinary market, credit, duration, liquidity or counterparty-risk language may still be present, but this does not by itself make the product complex.",
        "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": "fund_name",
            "quote": "iShares Digital Security UCITS ETF USD (Dist) Share ClassISIN: IE00BG0J4841"
        },
        {
            "source": "KIID",
            "signal": "type",
            "quote": "Exchange Traded Fund (ETF)"
        },
        {
            "source": "PRIIPS_KID",
            "signal": "ucits",
            "quote": "authorised by the Central Bank of Ireland as a Undertaking for Collective Investment in Transferable Securities (\u201cUCITS\u201d). The Fund is a UCITS exchange-traded fund, a UCITS ETF."
        },
        {
            "source": "FACTSHEET",
            "signal": "asset_class",
            "quote": "Asset Class : Equity"
        },
        {
            "source": "KIID",
            "signal": "replication_method",
            "quote": "The Fund uses optimising techniques to achieve a similar return to its Index. These techniques may include the strategic selection of certain securities that make up the Index or other securities which provide similar performance to certain constituent securities."
        },
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "These may also include the use of FDIs, which may be used for direct investment purposes. The use of FDIs is expected to be limited for this Share Class."
        },
        {
            "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": "securities_lending",
            "quote": "To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent."
        }
    ],
    "supporting_data": "UCITS physical ETF baseline applied. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [],
    "warnings": [
        "illiquid_or_hard_to_value_underlying_identified",
        "counterparty_risk_language_identified"
    ],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/IE00BG0J4841_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 12113,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE00BG0J4841.txt",
            "found": true,
            "http_code": 200,
            "bytes": 15210,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE00BG0J4841_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 12152,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE00BG0J4841&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 921,
            "error": null
        }
    }
}