The trophy for the winning team in the open section is the Hamilton-Russell Cup, which was offered by the English magnate Frederick Hamilton-Russell as a prize for the 1st Olympiad (London 1927). The cup is kept by the winning team until the next event, when it is consigned to the next winner. The trophy for the winning women's team is known as the Vera Menchik Cup in honor of the first Women's World Chess Champion.