Values of steady-state and pre-steady-state parameters for the hydrolysis of ZArgONp and ZLysONp catalysed by ancrod, the coagulating serine proteinase from the Malayan pit viper ( Agkistrodon rhodostoma) venom, have been determined, between pH 2.5 and 8 ( I = 0.1 M) at 21 ± 0.5°C, and analysed in parallel with those of bovine α-thrombin and porcine pancreatic β-kallikrein-B. In addition to the well-known coagulating behaviour, ancrod also shows catalytic properties, in the hydrolysis of ZArgONp and ZLysONp, reminiscent of those of porcine pancreatic β-kallikrein-B.