It is run at Ascot over a distance of 7 furlongs and 213 yards (1,603 metres), and it is scheduled to take place each year in July.
The event was formerly known as the Silver Trophy Stakes, and it used to be held at Lingfield Park.
For a period it was a Listed race open to horses aged three or older, and it was contested over 7 furlongs and 140 yards.
The Silver Trophy Stakes was promoted to Group 3 level in 2003, and from this point it excluded three-year-olds.
That year's edition was the first Group race in Britain run on a synthetic surface.