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This paper proposes an accurate and robust parallel algorithm for the extraction of reduced order electromagnetic models for passive components, by taking into consideration high frequency field effects. It aims at an extraction time as low as possible while keeping the accuracy control of the extracted model. The core of the reduction procedure is based on vector fitting (VF) rational approximation of the circuit functions, which are computed by solving the field equations with the finite integration technique (FIT) in a minimal list of frequency samples. The computationally intensive part of algorithm is efficiently mapped on a nonhomogeneous hierarchical multiprocessor architecture.