The ESO Infrared Detector High Speed Array Control and Processing Electronic IRACE is designed as a modular system and supports readout and data processing of arrays with four as well as multiple output channels. In addition the system can handle multiple separate arrays and the data are routed to multiple processing chains. Detector front-end(s) are galvanically separated from data processing and system administration with fiberoptic links. Interfaces to different data processing systems for on-line data handling are implemented. The paper describes principles of system operation, and the achieved readout and on-line processing speeds