In a near future, it is imminent that passenger vehicles will soon be introduced with a new revolutionary brake by wire system which replaces all the mechanical linkages and the conventional hydraulic brake systems with complete 'dry' electrical components. One of the many potential benefits of a brake by wire system is the increased brake dynamic performances due to a more accurate and continuous operation of the EMB actuators which leads to the increased amount of possibilities for control in antilock brake system. The main focus of this thesis is on the application of a model predictive control (MPC) method to devise an antilock brake control system for a brake by wire vehicle. Unlike the traditional ABS control algorithms which are based on a trial and error method, the MPC based ABS algorithm aims to utilizes the behaviour of the model to optimize the wheel slip dynamics subject to system constraints. The final implementation of the wheel slip controller emb races decentralized control architecture to independently control the brake torque at each four wheel. Performance of the wheel slip controller is validated through Software-in-the-Loop and Hardware-in-the-Loop simulation. In order to support the high demands of the computational power and the real time constraints of the Hardware-in-the-Loop simulation, a novel multi processor real-time simulation system is developed using the reflective memory network and the off-the-shelf hardware components.