Predicted to enable aspartic endopeptidase activity, intramembrane cleaving and protein homodimerization activity. Involved in several processes, including T cell receptor signaling pathway; positive regulation of calcineurin-NFAT signaling cascade; and positive regulation of cytosolic calcium ion concentration. Located in endoplasmic reticulum-Golgi intermediate compartment membrane. Is expressed in central nervous system; gonad; retina; and vibrissa. Orthologous to human SPPL3 (signal peptide peptidase like 3). [provided by Alliance of Genome Resources, Apr 2022]