ICC Test Championship
The ICC Test Championship is an international competition run by the International Cricket Council in the sport of cricket for the 10 teams that play Test cricket. The competition is notional in the sense that it is simply a ranking scheme overlaid on all international matches that are otherwise played as part of regular Test cricket scheduling with no consideration of home or away status.
In essence, after every Test series, the two teams involved receive points based on a mathematical formula. The total of each team's points total is divided by the total number of matches to give a 'rating', and the Test-playing teams are ranked by order of rating (this can be shown in a table).
A drawn match between higher and lower rated teams will benefit the lower-rated team at the expense of the higher-rated team. An 'average' team that wins as often as it loses while playing a mix of stronger and weaker teams should have a rating of 100.
The International Cricket Council awards a trophy, the ICC Test Championship mace, to the team holding the highest rating. The mace is transferred whenever a new team moves to the top of the rating list. The team that is top if the ratings table on 1st April each year also wins a cash prize, currently $1 million.