Abstract. This paper presents an approach for rapidly adjustable embedded trace online monitoring of multi-core systems, called RETOM. Today, most commercial multi-core SoCs provide accurate runtime information through an embedded trace unit without affecting program execution. Available debugging solutions can use it to reconstruct the run offline, but usually for up to a few seconds only. RETOM employs a novel online reconstruction technique that makes the program run available outside the SoC and allows for evaluating a specification formulated in the stream-based specification language TeSSLa in real time. The necessary computing performance is provided by an FPGA-based event processing system. In contrast to other hardware-based runtime verification techniques, changing the specification requires no circuit synthesis and thus seconds rather than minutes or hours. Therefore, iterated testing and property adjustment during development and debugging becomes feasible while preserving the option of arbitrarily extending observation time, which may be necessary to detect rarely occurring errors. Experiments show the feasibility of the approach.