It applies as a prefix to any type of field. It represents the record which is current in the context. The suffix must be a '.' followed by the API name of any field in the current object.

An example of its usage for the Work Detail object's Warranty lookup field in pre-filter would be 'End Date Greater or Equal To SVMX.CURRENTRECORD.End_Date__c'. For this to work, both the source and the target fields must be included in the page layout.

This literal can be used to define lookup context based on more than one context field and/or if the context match required is not exact match, but some other match such as contains, starts with, greater than, and so on. This is also useful when the context is based on an unsupported field type such as checkbox, date, or datetime.