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Ru– and Mo-based catalysts can be used in ring closing metathesis (RCM) reactions to synthesise cyclic phosphines protected as their borane complexes. The compatibility of the Schrock Mo-catalyst and the N-heterocyclic carbene Ru-catalysts with this class of substrates is particularly noteworthy as asymmetric RCM (ARCM) is now emerging as a new tool for the preparation of homochiral phosphines. One of the key results is that the Mo-catalyst allows the ring closure of the unprotected diallylphenylphosphine with 95% conversion.