Aspartate transcarbamoylase is an allosteric enzyme that catalyzes the first step in pyrimidine nucleotide synthesis, converting aspartate and carbamoyl phosphate into N-carbamoylaspartate. This enzyme plays a critical role in regulating the flow of metabolites within the biosynthetic pathway, with its activity being influenced by the binding of substrates and allosteric effectors, showcasing principles of allosteric regulation and cooperativity.