This chemical is primarily utilized in asymmetric catalysis, particularly in the synthesis of chiral compounds. It serves as a ligand in transition metal-catalyzed reactions, such as hydrogenation and C-C bond formation, where it helps achieve high enantioselectivity. Its unique structure, combining ferrocene, phosphine, and thioether groups, makes it effective in controlling the stereochemistry of the reaction products. This is especially valuable in the pharmaceutical industry for producing enantiomerically pure drugs. Additionally, it finds use in academic research for developing new catalytic methodologies and studying chiral induction mechanisms.