First Saturday (Hungarian: Első Szombat) is a monthly chess event that has been held in Budapest, Hungary since 1992.
[1] The primary purpose of the event is to give aspiring chess players opportunities to gain FIDE title norms.
If ten players cannot be found to fulfill the FIDE title norm requirements, a six-player double round robin may be organised instead.
No prize money is awarded; the Grandmasters are paid to compete, subsidised by the entry fees of the norm seekers.
Recently, Montenegro and Serbia have been holding Third Saturday tournaments which are also designed to give competitors a chance to win a GM norm.