An allosteric enzyme that regulates Glycolysis and Gluconeogenesis by catalyzing the Transfer of a phosphate group from ATP to Fructose-6-phosphate to yield Fructose-2,6-bisphosphate, an allosteric effector for the other 6-Phosphofructokinase, Phosphofructokinase-1. PhosphofructoKinase-2 is bifunctional: the dephosphorylated form is a Kinase and the phosphorylated form is a phosphatase that breaks down Fructose-2,6-bisphosphate to yield Fructose-6-phosphate.