If I did misuse the term "structured products" then it's simply because that's what my broker calls them. A UK bucket shop is not the only thing that makes sense. As newwurldmn mentioned, IG Index spreadbetting carries the bucket shop risk. This doesn't exist with an exchange traded product. As you can see from the Bloomberg article that I posted earlier, there are many UK and non-UK European banks issuing these products.
Personally, I would not make any correlation assumptions on a stock that has zero realized history and is still in price discovery mode. By the EOD I saw some Jun options going through the brokers market. Pretty wide vol-wise but I am still puzzled by people that would make any kind of volatility assumptions and would have to guess it was people hedging two-way flow from their clients.