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        "isin": "XS2856106302",
        "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.",
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        "prompt_version": "complex_asset_extract_v1",
        "captured_at_utc": "2026-06-19T10:40:45+00:00",
        "captured_unix": 1781865645
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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 Long Netflix Daily ETP",
    "isin": "XS2856106302",
    "type": "ETP",
    "ucits": false,
    "asset_class": "equity",
    "replication_method": "synthetic",
    "signals": {
        "leveraged": true,
        "inverse": false,
        "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,
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        "priips_comprehension_alert": true,
        "securities_lending": false,
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        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
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        "No inverse exposure identified"
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        "risk_level": "high",
        "drivers": [
            "Daily leveraged exposure",
            "Compounding and path dependency",
            "Synthetic or swap-based exposure",
            "Counterparty exposure may be relevant to returns or risk",
            "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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            "quote": "GraniteShares 3x Long Netflix Daily ETP ... seeks to replicate the performance of the Solactive Daily Leveraged 3x Long Netflix Inc Index ... provides a total return exposure to 3 times the daily performance of Netflix Inc"
        },
        {
            "source": "KIID",
            "signal": "derivatives_core_strategy",
            "quote": "The Product is backed by a swap with Natixis (the 'Swap Provider')"
        },
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "The Product is backed by a swap with Natixis (the 'Swap Provider')"
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        {
            "source": "KIID",
            "signal": "swaps",
            "quote": "The Product is backed by a swap with Natixis (the 'Swap Provider')"
        },
        {
            "source": "KIID",
            "signal": "synthetic_replication",
            "quote": "The Product is backed by a swap with Natixis (the 'Swap Provider') ... seeks to replicate the Underlying Index performance"
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "payment obligations of the Swap Provider to GraniteShares Financial plc are protected by collateral held in a segregated account ... if GraniteShares Financial plc is unable to pay out, you may lose all of your investment"
        },
        {
            "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: synthetic.",
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    "warnings": [
        "counterparty_risk_language_identified"
    ],
    "sources": {
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            "url": "https://oppl.ai/apy/doc_store/XS2856106302_KIID.txt",
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            "http_code": 200,
            "bytes": 10345,
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            "url": "https://oppl.ai/eu_kiids/en_txt/XS2856106302.txt",
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            "http_code": 404,
            "bytes": 1251,
            "error": "http_404"
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        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/XS2856106302_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 62,
            "error": null
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        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=XS2856106302&size=3",
            "found": true,
            "http_code": 200,
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