{
    "ok": true,
    "_meta": {
        "isin": "XS2779861835",
        "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": "2026-06-19T09:45:28+00:00",
        "captured_unix": 1781862328
    },
    "classification": "complex",
    "confidence": 0.93,
    "review_required": false,
    "decision_rule_applied": "etp_leveraged_hard_complex_rule",
    "product_policy_branch": "ETP",
    "fund_name": "Leverage Shares -3x Short Artificial Intelligence (AI) ETP Securities",
    "isin": "XS2779861835",
    "type": "ETP",
    "ucits": false,
    "asset_class": "Equity",
    "replication_method": null,
    "signals": {
        "leveraged": true,
        "inverse": true,
        "derivatives_mentioned": false,
        "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": true,
        "illiquid_or_hard_to_value_underlying": false,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
    },
    "complex_factors": [
        "Leverage"
    ],
    "non_complex_factors": [],
    "consumer_understanding": {
        "risk_level": "high",
        "drivers": [
            "Daily leveraged exposure",
            "Compounding and path dependency",
            "Inverse or short exposure",
            "Returns may move opposite to the referenced market",
            "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": "-3 times the value of the daily performance"
        },
        {
            "source": "KIID",
            "signal": "inverse",
            "quote": "-3x Short Artificial Intelligence"
        },
        {
            "source": "KIID",
            "signal": "derivatives_core_strategy",
            "quote": "The ETP securities seek to pursue the -3x Short Artificial Intelligence (AI) Investment Strategy which provides exposure to -3 times the daily performance"
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "If we fail to make a payment when due, the trustee ... may not be enough to cover all amounts"
        },
        {
            "source": "KIID",
            "signal": "priips_comprehension_alert",
            "quote": "You are about to purchase a product that is not simple and may be difficult to understand."
        },
        {
            "source": "KIID",
            "signal": "securities_lending",
            "quote": "the mark to mark value of any securities loans"
        }
    ],
    "supporting_data": "Hard complex product feature identified: Leverage. Policy mode: balanced. Product type: ETP. UCITS signal not identified.",
    "missing_data": [
        "priips_kid",
        "factsheet",
        "replication_method",
        "Replication method",
        "Swap usage",
        "Synthetic replication"
    ],
    "warnings": [
        "counterparty_risk_language_identified"
    ],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/XS2779861835_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 12032,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/XS2779861835.txt",
            "found": false,
            "http_code": 404,
            "bytes": 1251,
            "error": "http_404"
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/XS2779861835_FS.txt",
            "found": false,
            "http_code": 404,
            "bytes": 1251,
            "error": "http_404"
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=XS2779861835&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 580,
            "error": null
        }
    }
}
