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    "_meta": {
        "isin": "XS2838543614",
        "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": "2026-06-19T09:59:07+00:00",
        "captured_unix": 1781863147
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    "confidence": 0.93,
    "review_required": false,
    "decision_rule_applied": "etp_leveraged_hard_complex_rule",
    "product_policy_branch": "ETP",
    "fund_name": "GraniteShares 3x Short Moderna Daily ETP Securities",
    "isin": "XS2838543614",
    "type": "ETP",
    "ucits": false,
    "asset_class": "Equity",
    "replication_method": "synthetic",
    "signals": {
        "leveraged": true,
        "inverse": true,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": true,
        "derivatives_epm_only": false,
        "swaps": true,
        "funded_swap": false,
        "unfunded_swap": false,
        "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,
        "complex_index": true,
        "priips_comprehension_alert": true,
        "securities_lending": false,
        "illiquid_or_hard_to_value_underlying": false,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
    },
    "complex_factors": [
        "Leverage"
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    "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",
            "Synthetic or swap-based exposure",
            "Counterparty exposure may be relevant to returns or risk",
            "Complex or rules-based index methodology",
            "Index performance may depend on dynamic allocation or strategy rules",
            "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."
    },
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            "source": "KIID",
            "signal": "leveraged",
            "quote": "GraniteShares 3x Short Moderna Daily ETP Securities"
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        {
            "source": "KIID",
            "signal": "inverse",
            "quote": "short Moderna"
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        {
            "source": "KIID",
            "signal": "derivatives_core_strategy",
            "quote": "The Product is backed by a swap with Natixis (the \u201cSwap Provider\u201d)."
        },
        {
            "source": "KIID",
            "signal": "swaps",
            "quote": "The Product is backed by a swap with Natixis (the \u201cSwap Provider\u201d)."
        },
        {
            "source": "KIID",
            "signal": "synthetic_replication",
            "quote": "The Product is backed by a swap with Natixis"
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "The payment obligations of the Swap Provider to GraniteShares Financial plc are protected by collateral held in a segregated account"
        },
        {
            "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": "FACTSHEET",
            "signal": "leveraged",
            "quote": "GraniteShares 3x Short Moderna Daily ETP Securities"
        },
        {
            "source": "FACTSHEET",
            "signal": "inverse",
            "quote": "short Moderna"
        },
        {
            "source": "FACTSHEET",
            "signal": "complex_index",
            "quote": "Solactive Daily Leveraged 3x short Moderna Index"
        },
        {
            "source": "FACTSHEET",
            "signal": "counterparty_risk",
            "quote": "In the event a swap counterparty defaults, the proceeds from the realisation of the collateral may be less than what the investor expects"
        }
    ],
    "supporting_data": "Hard complex product feature identified: Leverage. Policy mode: balanced. Product type: ETP. UCITS signal not identified. Replication method: synthetic.",
    "missing_data": [
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        "illiquid_or_hard_to_value_underlying"
    ],
    "warnings": [
        "counterparty_risk_language_identified"
    ],
    "sources": {
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            "url": "https://oppl.ai/apy/doc_store/XS2838543614_KIID.txt",
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            "http_code": 200,
            "bytes": 10195,
            "error": null
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            "url": "https://oppl.ai/eu_kiids/en_txt/XS2838543614.txt",
            "found": false,
            "http_code": 404,
            "bytes": 1251,
            "error": "http_404"
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        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/XS2838543614_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 7804,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=XS2838543614&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 564,
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}