When you call to access a "live" CC, you normally don't need to know anything more than the phone number and the specific company CC you're calling to attend. It is standard procedure, before you're connected to the CC, that a live operator will ask you for your name and the firm you represent. If the "firm" happens to be just you, an individual investor, just tell the operator that. You don't need to make up a business name to be connected. The company just wants to have a record of who is privy to their CC. Also, it is customary practice for the CC's coordinator to announce the name and business affiliation of all persons asking questions during the Q&A portion of the CC. Sometimes the coordinator will ask the questioner to identify themselves by name and�affiliation. In this case, some analysts may identify themselves by name but fail to mention the firm they represent. This information can be helpful to you as an investor.
Let's say you are familiar with all of the analysts for the firms providing coverage on the company. You're listening to a CC and you hear a questioner's name and affiliation given and it's not a firm that's on the list. Other research assistants may sometimes ask a question on behalf of the principal analyst covering the company for his/her firm. It's not so much the questioner's name that's important (although that could possibly indicate whether the firm has replaced the analyst covering your company) as it is the firm name that you want to recognize and account for. If IR tells you that that firm has not issued a report on their company that they're aware of (IRs won't tell you about potential coverage by analysts they may be talking to. That revelation could be considered "inside" information) or if you call a broker-of-the-day at an office of the firm the questioner was from and are told that their research department has nothing out on your company, in all likelihood, you've just gotten an airborne early warning advisory on what the future may hold, coveragewise. It may take several months or the better part of a year for it to surface, but lo and behold, down the road you see an announcement on the newswire one day that Ketchum & Fleecem Securities, Inc. has just initiated coverage on Amalgamated Mousetrap.
Auditing taped replays presents a somewhat different situation than a "live" CC. Besides the phone number, you'll usually be required to have an access code. Access to taped replays is much more of an automated process than is the "live" CC. The phone number gets you to the provider of replay access. The access code connects you with the specific CC you've called to listen to. Again, at some point, you'll be asked to identify yourself and your affiliation. This request may come from a live operator or an automated interrogator.
With some companies who are restrictive as to who they will allow to audit their CC, either "live" or taped replay, IR will issue you a Reservation #. This can be in addition to the telephone number and an access code. That reservation number is like an admission ticket. The firm providing the CC facilities has been given a list by IR of valid reservation numbers they've issued and once someone calls in requesting access to a CC using that reservation number, anyone else trying to use the same reservation number to gain access, may find themselves out of luck. Occasionally, some companies may use the term "access" and "reservation" number interchangeably. The important thing to remember is that "reservation" usually implies "exclusivity" and if you're given all three, you know the company did not intend unlimited access for every John or Jane Q. Investor.