Quant Firm's $1 Billion Code Is Focus of Rare Criminal Case
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The prosecution of a trader could define how a quant algorithm can become stolen property and have a huge impact on Wall Street's talent war.
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MLS players' union says dispute over Club World Cup compensation is ongoing
Major League Soccer and its players' union remain at odds over compensation for the players with the three MLS teams taking part in the Club World Cup. The Seattle Sounders, LAFC and Inter Miami are the only MLS clubs among the 32 teams playing in the Club World Cup, which starts Saturday. Each team will earn $9.55 million as a club for participating in the tournament, with a chance to win additional prize money based on performance. The Major League Soccer Players Association said Sunday that the league issued a proposal Friday that did not include any additional participation bonuses for the players and offered 'below-standard' back-end compensation. The union also said the league asked for unrelated concessions to the collective bargaining agreement. Currently, there is a provision of the collective bargaining agreement that caps the amount of prize money that can go to players at $1 million. The MLSPA believes the players are entitled to a bigger share of the funds. 'The timing, substance and retaliatory nature of the proposal sends a clear message: MLS does not respect or value players' efforts with regard to this tournament,' the MLSPA said in statement Sunday. 'Although not surprised, the players and the MLSPA are deeply disappointed by this message.' Major League Soccer issued a statement Sunday to clarify its position. 'As the Seattle Sounders FC, Inter Miami CF, and the Los Angeles Football Club prepare to compete in the upcoming FIFA Club World Cup, Major League Soccer has agreed to voluntarily provide additional performance-based compensation to players from the three participating clubs,' the league said. 'MLS has proposed an enhanced structure for the Club World Cup to reward both participation and competitive achievement in the tournament. In addition to the guaranteed $1 million per team for qualifying, 20 percent of all prize money earned from the group stage onward would be allocated to players. If an MLS club wins the Club World Cup, its players could collectively receive more than $24 million in performance bonuses.' The statement went on to say that MLS owners believe that performance-based incentives are appropriate given the expanded format and increased prize pool for the tournament. 'The League values the continued dedication and commitment of its players and looks forward to supporting them as they represent their clubs -- and Major League Soccer -- on the global stage this summer.' The talks between the two sides were ongoing. Last weekend, the Seattle Sounders called attention to the issue by wearing T-shirts before a match that read 'Club World Cup Ca$h Grab.' On Sunday, a number of players posted the hashtag #FairShareNow, including Sounders goalkeeper Stefan Frei and LAFC center back Aaron Long. 'The players remain unified in using their collective voice and demanding a fair share of the rewards earned from their hard work,' the union said. The Club World Cup features an expanded field of club teams from around the globe and will be played across 11 U.S. cities. ___ AP soccer:
