The FMC-500 is a high speed digitizing and signal generation FMC I/O module featuring two, 500MSPS A/D channels and two 1230 MSPS D/A channels supported by ultra-low jitter sample clock and triggering features. The FMC-500 features the new Hitite dual channel, 14-bit 500 MSPS A/D device plus an Analog Devices dual-channel 1230 MSPS DAC device. Analog IO may be either AC or DC coupled. Receiver IF frequencies of up to 500 MHz are supported due to the wide bandwidth performance of the analog front-end. The sample clock may be sourced from either a low-jitter PLL or external input. Multiple cards can be synchronized for sampling to address MIMO applications. The FMC-500 power consumption is 11.5W for typical operation. The module may be conduction-cooled using VITA20 standard and a heat spreading plate. Ruggedization levels for wide-temperature operation from -40 to 85C operation and 0.1 g2/Hz vibration. Conformal coating is available. Support logic in VHDL is provided for integration with FPGA carrier cards. Specific support for Innovative carrier cards includes integration with Framework Logic tools that support VHDL and Matlab developers. The Matlab BSP supports real-time hardware-in-the-loop development using the graphical block diagram Simulink environment with Xilinx System Generator for the FMC integrated with the FPGA carrier card. Software tools for Innovative carrier cards include host development include C libraries and drivers for Windows and Linux. 32/64-bit including RTOS variants. Application examples demonstrating the module features are provided.