​Daily Bulletin: Tuesday June 2

The structured products industry in Europe has asked the U.K. Financial Conduct Authority for support in achieving industry harmonization when defining a target market at the design stage of a product. According to a letter from the Joint Associations Committee to the FCA following the regulator’s thematic review of product development and governance, the trade body has also supported the recognition of a requirement for tailored solutions, but has asked for coordination with global regulators since many firms manufacture and distribute products globally. In U.S. listed flow today, Coca Cola Enterprises was the most heavily traded stock, seeing an outspized call spread targeting Jan. 47-49. XLF also saw heavy flow, with one investor entering a bullish three-legged spread trade.