pd.io.json.json_normalize(data).pipe(
lambda x: x.drop('ProductSMCP', 1).join(
x.ProductSMCP.apply(lambda y: pd.Series(merge(y)))
)
).rename(columns=lambda x: re.sub('(Product|Xref).', '', x))
Currency Description Operational TypeLevel1 TypeLevel2 BBT SCSP TCK _id SMCP SMCP2
0 NaN 3 YEAR NaN INTEREST LONG NaN 96 NaN 25 01 NaN
1 USD 10 YEAR True INTEREST LONG CITITYM9 NaN ZN 26 01 02