Get out your fascinators and place your bets: it's Melbourne Cup Day. 

The 164th running of the Melbourne Cup begins about 5pm. 

Donna Demaio is Newstalk ZB's Melbourne Cup correspondent at Flemington. 

She told Ryan Bridge there are 24 horses in the final field for this year's big race. 

They include three trained in New Zealand: 'Trusting You', 'Positivity' and 'Sharp and Smart'. 

In addition, she said, this year there are also four women jockeys for the second time ever. 

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