The trophy was donated by the Prince Philip, Duke of Edinburgh in March 1954.
The globe was attached to a black ebony base with the coat of arms of the Dominion of Canada.
On the sides of the base, there were small plaques to inscribe the winning team's name.
The two leagues would play off annually, alternating in the east and the west.
The first playoff would be held in the city of the champion of the Western Hockey League.