Multiple winner arbitration

A method to combine trace data for multiple systems within an embedded system is provided. This method involves coupling a set of trace sources within the embedded system to a trace system. A subset of trace source(s) may then be selected from the set of trace sources. The subset of trace sources may be formatted to produce a packetized trace stream. The packetized trace stream may then be provided to external interface circuitry. External circuitry coupled to the trace system allows for analysis of the packetized trace streams regarding internal operations within the embedded system. An arbitrator may determine which trace source(s) from the set of trace sources are selected to be within the subset of trace sources. The arbitrator may use several criteria to make this determination.