A catalyst system capable of catalysing the carbonylation of an olefinally unsaturated compound is described. The 5 catalyst system is obtainable by combining: (a) a metal of Group VIB or Group VIII B or a compound thereof; and (b) a bidentate phosphine of general formula (I) Ad)s(CR4R5R6)TQ2-A-(K,D)Ar(E,Z)-B-Q1(Ad)u(CR1R2R3)v. Ad represents an optionally substituted adamantyl radical bonded to the phosphorous atom via any one of its tertiary carbon atoms. A method of production of the catalyst is also illustrated.