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With the use of low powered devices, susceptibility of high-speed interconnects to electromagnetic interference (EMI) is becoming a critical aspect of signal integrity analysis. For modeling the EMI in time domain, commercial circuit simulators like SPICE typically use longitudinal segmentation methodologies to discretize the interconnect network. For long lines as found in printed circuit board or cables, a large number of longitudinal segments are required to capture the response of the network leading to inefficient simulations. In this study, a waveform relaxation (WR) algorithm for the efficient EMI analysis of multiconductor transmission line networks is presented. Techniques to compress the size of the subcircuits, reduce communication overheads, and accelerate the convergence of the WR iterations are provided. The overall algorithm is demonstrated to be highly parallelizable and exhibits good scaling with both the size of the network involved and the number of central processing units available.