This thesis proposes an optimized Co-ordinate Rotation Digital Computer (CORDIC) algorithm in the rotation and extended vectoring mode of the circular co-ordinate system. The CORDIC algorithm computes the values of trigonometric functions and their inverses. The proposed algorithm provides the result with a lower overall latency than existing systems. This is done by using redundant representations and approximations of the required direction and angle of each rotation. The algorithm has been designed to provide the result in a fixed number of iterations $n$ for the rotation mode and $3\lceil n/2 \rceil + \lfloor n/2 \rfloor$ for the extended vectoring mode; where, $n$ is a design parameter. In each iteration, the algorithm performs between 0 and $p/n$ parallel rotations, where, $p$ is the number of precision bits and $n$ is the selected number of iterations. A technique to handle the scaling factor compensation for such an algorithm is proposed. The results of the functional verification for different values of $n$ and an estimation of the overall latency are presented. Based on the results, guidelines to choosing a value of $n$ to meet the required performance have also been presented.