Previously known as 1,3-diphosphoglycerate (1,3DPG), this molecule is the first molecule that generates ATP in glycolysis. Its phosphoryl group generates a high-potential phosphorylated compound through a redox reaction.
1,3BPG is also responsible for the production of an allosteric effector of hemoglobin, 2,3-bisphosphoglycerate (2,3BPG). In this reaction, a phosphoryl group is transferred from 1,3BPG to the C-2 of 3PG. This yields 2,3BPG and a different 3PG molecule.
From the BioTech Dictionary at http://biotech.icmb.utexas.edu/. For further information see the BioTech homenode.