For Distinguished Conduct in the Field: The Register of the Distinguished Conduct Medal 1939 - 1992. Brown, G. A., Langley, BC: Western Canadian Distributors Ltd., 1993, Hardcover, 543 pages. 

"The Distinguished Conduct Medal (DCM) was (until 1993) an extremely high level award for bravery. It was a second level military decoration awarded to other ranks of the British Army and formerly also to non-commissioned personnel of other Commonwealth countries.

The medal was instituted in 1854, during the Crimean War, to recognise gallantry within the other ranks, for which it was equivalent of the Distinguished Service Order (DSO) awarded for bravery to commissioned officers, but the DCM ranked well below the DCO in precedence.

Although considered to be the army's second ranking gallantry award, the DCM was almost always seen as a "near miss for the VC". From 1942, members of the Navy and Air Force were entitled to the award.

In the aftermath of the 1993 review of the honours system, as part of the drive to remove distinctions of rank in awards for bravery, the DCM was discontinued (along with the award of the DSO specifically for gallantry and of the Conspicuous Gallantry Medal). These three decorations were replaced by the Conspicuous Gallantry Cross, which now serves as the second level award for gallantry for all ranks across the whole armed forces." - Wikipedia