ASA SQL Reference
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@@identity global variable

The @@identity variable holds the most recent value inserted into an IDENTITY column or a DEFAULT AUTOINCREMENT column, or zero if the most recent insert was into a table that had no such column.

The value of @@identity is connection specific. It is reset each time a row is inserted into a table. If a statement inserts multiple rows, @@identity reflects the IDENTITY value for the last row inserted. If the affected table does not contain an IDENTITY column, @@ identity is set to 0.

The value of @@identity is not affected by the failure of an INSERT or SELECT INTO statement, or the rollback of the transaction that contained it. @@identity retains the last value inserted into an IDENTITY column, even if the statement that inserted it fails to commit.

@@identity and triggers 

When an insert causes referential integrity actions or fires a trigger, @@identity behaves like a stack. For example, if an insert into a table T1 (with an identity or autoincrement column) fires a trigger that inserts a row into table T2 (also with an identity or autoincrement column), then the value returned to the application or procedure which carried out the insert is the value inserted into T1. Within the trigger, @@identity has the T1 value before the insert into T2 and the T2 value after. The trigger can copy the values to local variables if it needs to access both.