Used as a chiral ligand in asymmetric catalysis, particularly in enantioselective organic transformations. Its rigid binaphthyl backbone and hydroxyl groups enable coordination with metal centers, making it effective in catalyzing reactions such as asymmetric allylic alkylation and Diels-Alder reactions. The presence of nitro groups enhances electronic properties, improving reactivity and selectivity. Commonly employed in synthesis of chiral intermediates for pharmaceuticals and fine chemicals where high enantiomeric excess is required.