Widely used as a chiral ligand in asymmetric catalysis, this compound plays a key role in hydrogenation reactions, particularly for the enantioselective reduction of prochiral olefins and ketones. It is especially effective in the synthesis of chiral pharmaceutical intermediates and fine chemicals where high enantiomeric excess is required. Its ferrocene backbone provides structural rigidity and stability, enhancing catalytic performance in transition metal complexes, notably with rhodium and ruthenium. The presence of two phosphine groups and a stereogenic center allows for precise control over stereochemistry in the product, making it valuable in academic research and industrial asymmetric synthesis.