Abstract
The mechanism of a membrane‐bound enzyme important in phospholipid signaling, type 2 phosphatidic acid phosphatase, is suggested by sequence motifs shared with a soluble vanadium‐dependent chloroperoxidase of known structure. These regions are also conserved in other soluble globular and membrane‐associated proteins, including bacterial acid phosphatases, mammalian glucose‐6‐phosphatases, and the Drosophila developmental protein Wunen. This implies that a similar arrangement of catalytic residues specifies the active site within both soluble and membrane spanning domains.