We present a new multi-trace boundary integral equation formulation for the solutions of the time harmonic electromagnetic scattering from large and deep cavities. Comparing to previously integral equation formulations, the new formulation has two major benefits: (1) it leads to a well-conditioned system equation after multiplicative Schwarz preconditioning, and (2) the localized impedance matrices arising from decomposed boundary value problems are immune from cavity resonances effects. We outline the key technical aspects of the new multitrace formulation, give the details of the numerical analysis, and report numerical experiments verifying the analysis and display the capabilities of the proposed methods.Index Terms-Maxwell's Equations, Electromagnetic scattering, Domain decomposition method, Boundary integral equation 0018-926X (c)