{
    "ok": true,
    "_meta": {
        "isin": "XS2399364152",
        "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": "2026-06-19T12:07:56+00:00",
        "captured_unix": 1781870876
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    "classification": "complex",
    "confidence": 0.93,
    "review_required": false,
    "decision_rule_applied": "etp_leveraged_hard_complex_rule",
    "product_policy_branch": "ETP",
    "fund_name": "Leverage Shares 5x Long Nasdaq 100 ETP Securities",
    "isin": "XS2399364152",
    "type": "ETP",
    "ucits": false,
    "asset_class": "equity_index",
    "replication_method": "physical",
    "signals": {
        "leveraged": true,
        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": true,
        "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": true,
        "securities_lending": false,
        "illiquid_or_hard_to_value_underlying": false,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
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    "complex_factors": [
        "Leverage"
    ],
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        "Physical replication",
        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "high",
        "drivers": [
            "Daily leveraged exposure",
            "Compounding and path dependency",
            "Derivatives appear core to the investment strategy",
            "Counterparty risk language identified",
            "PRIIPs comprehension alert language"
        ],
        "plain_english_explanation": "The product uses leveraged exposure. Ordinary retail clients may not understand that leverage can magnify both gains and losses and, where exposure resets daily, compounding can cause returns over longer periods to differ significantly from the headline leverage multiple.",
        "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": "leveraged",
            "quote": "5 times the value of the daily performance of Nasdaq-100 Index\u00ae"
        },
        {
            "source": "FACTSHEET",
            "signal": "derivatives_mentioned",
            "quote": "Underlying Assets: Invesco QQQ Trust and Nasdaq 100 futures contracts"
        },
        {
            "source": "FACTSHEET",
            "signal": "derivatives_core_strategy",
            "quote": "Underlying Assets: Invesco QQQ Trust and Nasdaq 100 futures contracts"
        },
        {
            "source": "FACTSHEET",
            "signal": "counterparty_risk",
            "quote": "Margin Provider: Interactive Brokers LLC and/or Goldman Sachs & Co. LLC"
        },
        {
            "source": "KIID",
            "signal": "priips_comprehension_alert",
            "quote": "You are about to purchase a product that is not simple and may be difficult to understand"
        }
    ],
    "supporting_data": "Hard complex product feature identified: Leverage. Policy mode: balanced. Product type: ETP. UCITS signal not identified. Replication method: physical.",
    "missing_data": [
        "priips_kid"
    ],
    "warnings": [
        "counterparty_risk_language_identified"
    ],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/XS2399364152_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 12283,
            "error": null
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        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/XS2399364152.txt",
            "found": false,
            "http_code": 404,
            "bytes": 1251,
            "error": "http_404"
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/XS2399364152_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 9349,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=XS2399364152&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 804,
            "error": null
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}