A data retiming system for retiming incoming data and eliminating jitter is described. The data retiming system includes a local clock; a phase aligner for receiving the incoming data and producing a recovered clock from the incoming data, and then producing retimed incoming data by retiming the incoming data with the recovered clock; and a buffer memory for removing jitter from the retimed incoming data by storing the retimed incoming data to the buffer memory in accordance with the recovered clock and reading the stored data from the buffer memory in accordance with the local clock. The data retiming system provides reliable operation even at very high data rates. A freezeable voltage-controlled oscillator for producing a clock signal in accordance with a freeze signal and a frequency control signal is also disclosed. Using current steering techniques, the freezeable voltage-controlled oscillator is able to freeze its output very quickly.