Thirty-one years after he won the Melbourne Cup on Kiwi, Jim Cassidy is still making his mark on Australian racing's biggest day.

And while he might be an elder statesman of the jockeys' room, Cassidy's renowned strength in a finish hasn't diminished as he drove Grand Marshal to victory in the other staying race at Flemington on Cup day.

Riding hard for the length of the straight, Cassidy prevailed in a battle with English jockey William Buick on Renew to win the 2800m Visit Victoria Plate.

A visibly sweating Cassidy said he had to work hard to get the Chris Waller-trained Grand Marshal ($4) home by a half head from Renew ($26).

"All credit goes to Jim Cassidy," Waller said.

"He has had a lot of success on this horse.

"And it's great for the owner Mr Lai who is in China. Today is the Melbourne Cup for this horse and to win a race for him on Cup day is special.

"Grand Marshal might go on to the Sandown Cup on Saturday week."

Cassidy has had five rides on Grand Marshal for four wins and a second.

"He reared a bit at the start but I didn't panic and let him find his feet," Cassidy said.

"He was able to run it right out and get there in the end."

Buick thought he had the race won on Renew who finished near the tail of the field in the Caulfield Cup after he gained a start as the fourth emergency.

Like Grand Marshal and most of the Melbourne Cup field, Renew is a former European stayer.

"Once we got through a gap I thought he had it won but the other one kept going," Buick said.

The Gai Waterhouse-trained $3.40 favourite Order Of The Sun dominated betting and much of the race but the effort told and he finished second last of the 17 runners.