It is run at Newbury over a distance of 5 furlongs and 34 yards (1,037 metres), and it is scheduled to take place each year in September.
The event was formerly called the Marlborough Stakes, and it used to be an ungraded conditions race for three-year-olds.
It was renamed in memory of Tony Stratton Smith, a racehorse-owning music entrepreneur, in 1992.
The race became known as the World Trophy when Dubai Airport started a new period of sponsorship in 1997.
From this point the event held Listed status, and it was promoted to Group 3 level in 2002.